Outlive Group Appointed as Project Development Manager to Lead Design and Delivery
Riyadh, KSA – Al Khozama Investment Company (“Al Khozama”), one of Saudi Arabia’s leading hospitality and real estate companies, and GFH Capital (“GFH”), the Saudi-based private equity and asset management arm of GFH Financial Group, have entered into a strategic partnership to jointly develop a landmark mixed-use real estate project in the heart of Riyadh.
The partnership represents a major milestone in GFH’s expansion in the Saudi market and underscores both parties’ shared commitment to delivering world-class destinations that enhance Saudi Arabia’s urban landscape and support its ambitious economic transformation agenda, as outlined in Vision 2030.
Located adjacent to the iconic Al Faisaliah Tower on King Fahad Road in Olaya, the project is envisioned as a new benchmark for integrated mixed-use developments in Riyadh. With a total development cost of approximately SAR 1.5 billion, the destination will feature a premier combination of branded residential apartments, hotel residences, Grade-A offices, retail outlets, wellness and lifestyle facilities, and a state-of-the-art parking complex serving both the development and surrounding district.
This partnership brings together Al Khozama’s proven expertise in hospitality and real estate development, GFH’s regional investment and structuring capabilities, and the design and delivery excellence of Outlive Group Ltd., which has been appointed as the Development Manager. The partners have commenced work on project planning, design, and regulatory processes, paving the way for the launch of this landmark destination.
Khalid S. AbuHaimed, CEO, Al Khozama Investment Company, commented on the partnership, saying: “This collaboration with GFH reflects our shared ambition to redefine mixed-use urban living in Riyadh. Building on Al Khozama’s legacy of excellence in hospitality and real estate, this project will further elevate the standards of integrated development in the Kingdom.”
Razi Almerbati, CEO, GFH Capital, added: “We are proud to partner with Al Khozama on this iconic development at the heart of Riyadh. The Kingdom continues to offer exceptional opportunities for forward-looking investors, and GFH is committed to bringing its expertise, network, and resources to create enduring value and contribute to the momentum of Vision 2030.”
Walid Alhindi, MD, Outlive Group, stated: “We are pleased to collaborate with Al Khozama and GFH on this landmark development, which embodies innovation, sustainability, and human-centric design. Our vision is to create a destination that seamlessly integrates living, working, and leisure spaces while reflecting the cultural identity and modern aspirations of Riyadh. This project will stand as a model for next-generation urban developments in the region.”
