AWJ Investment, a subsidiary of AWJ Holding, announced the acquisition of a 40% stake in Oud Real Estate. This strategic partnership is set to drive the development of branded residential, commercial, and hospitality projects, with projected investments exceeding SR8 billion over the next five years. This collaboration combines AWJ's financial expertise with Oud's innovative approach to creating lifestyle destinations that celebrate Saudi heritage. Since its establishment in 2016, Oud Real Estate has earned acclaim for its culturally infused, design-forward developments that reflect the evolving urban landscape of Saudi Arabia. Abdulaziz Al-Mousa, CEO of AWJ Holding, remarked on the significance of this partnership in relation to the Kingdom's Vision 2030: "Saudi Arabia is experiencing a renaissance in urban development, emphasizing cultural preservation, sustainability, and cohesive design. Oud Real Estate has demonstrated a profound understanding of this transformation. We are excited to collaborate with them to enhance their growth and contribute to the creation of dynamic, forward-thinking urban environments." Arc Mohammed Al-Duraibi, Founder and Managing Director of Oud Real Estate, expressed optimism about the partnership's potential: "This collaboration marks a pivotal moment for our company. It is a strategic initiative that will accelerate our expansion plans and reinforce our position in the luxury real estate sector. We are committed to designing spaces that enhance quality of life while showcasing Saudi culture through innovative design, hospitality, and architecture." The partnership will focus on key urban centers, including Riyadh and Jeddah, with an emphasis on developing distinctive, upscale destinations that seamlessly integrate Saudi authenticity with contemporary urban living. Oud's design philosophy draws inspiration from local narratives, customs, and hospitality, reimagined through a modern architectural lens. As demand for high-end real estate continues to rise in the Kingdom, the AWJ-Oud collaboration aims to set new standards in quality and cultural relevance. Both companies share a vision to create iconic destinations that embody Saudi Arabia's confidence, creativity, and aspirations on the global stage.
