Al-Othaim Investment enhances its contribution to achieving ‎Vision 2030 by expanding locally and regionally

Abdullah Al Othaim Investment Company continued its growth and expansion during the year 2023, with its activities covering a large number of integrated sectors that are based on the company’s strategy to expand locally and regionally and keep pace with the aspirations of the Kingdom’s Vision 2030 in promoting new sectors in the Saudi economy, most notably the sectors of commercial centres, entertainment, hospitality and retail. Retailing food, fashion, sports centers, artificial intelligence, cinema, and multi-use projects, in addition to the company’s work on 23 current and future projects that represent a new impetus to the company’s business base in the near future.

By the end of the year 2023, Al-Othaim Investment Company has become one of the regional Saudi companies that is growing at a rapid rate, as the company’s investments are distributed among 5 Arab countries: Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Oman, and Egypt, with a total number of employees reaching almost 3,000 employees directly, in addition to thousands of indirect jobs.

The sector of establishing, operating and managing major commercial centers represents one of the important sectors that the company’s strategy focuses on, based on its historical experience in this field, as the company owns and manages 12 commercial malls distributed in various regions of the Kingdom under the most famous brand “Othaim Mall” and receives about 50 million visitors annually due to its adoption of the best international specifications, and its interest in applying innovative concepts for shopping and entertainment to meet the needs and aspirations of customers of different ages.

The company’s strategy in the mixed-use projects sector contributes directly to achieving the goals of the Kingdom’s Vision 2030, especially with regard to the main strategic goal of improving the quality of life in Saudi cities through… “, which included 23 projects distributed across the regions and cities of the Kingdom, in addition to 7 other projects under implementation, as the company launched the Kunooz project in the city of Riyadh, the Othaim Park project in the city of Dammam, the Othaim Circle project in the city of Khobar, Othaim Diamond project in Riyadh, Othaim Mall in Jubail, Othaim Mall in Al Madhnab, and Othaim City Center in Hail, in addition to the company’s acquisition of many strategic locations in several cities in the Kingdom. Implementation work is expected to begin during the last quarter of the current year and the first of next year in more than 10 locations in new integrated projects in the cities of (Riyadh, Dammam, Al-Khobar, Hail, Al-Kharj, Jizan, Qurayyat, Khamis Mushait, Al-Muthanna, Jubail, Medina, Al-Ahsa, and Buraidah).

The entertainment sector represents one of the sectors to which the company has given great importance in recent years, in line with the Kingdom’s Vision 2030, which has created a major movement in this sector and the Kingdom has become an attractive destination for leisure tourism, which currently aspires to reach 150 million visitors annually by the year 2030 thanks to projects and initiatives launched based on the vision.

Al-Othaim World Company is contributing to the major transformation witnessed by the entertainment sector in the Kingdom, as the company now has 73 entertainment sites, and plans to open 25 theaters under its new brand “Nowar Cinema,” in addition to 5 theaters under the brand name “Empire.” This contributes to achieving a strategic goal of the Kingdom’s Vision 2030, which is to develop and diversify entertainment opportunities to meet the needs of the population in the Kingdom.

The hospitality sector is integrated with the entertainment and tourism sector, if the company is able to add a new hospitality and hospitality company, whose strategy aims to represent a major addition to the hospitality industry in the Kingdom by redefining hospitality standards for years to come, as it plans to open 14 hotels and provide about 2,000 rooms during the next year period.

The fashion retail sector is one of the important sectors of the company through its arm, “Al-Othaim Life”, which is distinguished by its spread over 87 locations and the provision of 15 brands to contribute directly to improving the quality of life in the cities in which it is located and as attraction points for those seeking modern fashions to contribute to Developing internal trade, in addition to its acquisition of 18 brands and 244 showrooms worth 120 million riyals from Cenomi Retail, which makes it at the forefront of fashion companies.

The food retail sector is integrated with the company’s other sectors, including “Al-Othaim Food”, as the company owns 51 branches and has about 10 brands.

Sports centers represent one of the company’s important sectors that contribute to improving the quality of life and providing a healthy life for citizens, as Al Othaim Investment Company launched “Al Othaim Sports Company”, which specializes in establishing and operating sports clubs, fitness centers and academies, and organizing sporting events within commercial centers and hotels. And residential complexes and others, to keep pace with the Kingdom’s Vision 2030 in achieving development and enhancing the contribution of the sports sector to the local product, to enrich the sports culture, and to support and enhance the elements of quality of life.

The recent period witnessed the launch of Al-Othaim Investment Company its new company, “Al-Othaim Development, Research and Artificial Intelligence”, in a step that is consistent with the Kingdom’s Vision 2030 to achieve a comprehensive digital transformation in the Kingdom and enhance the company’s strategy to support and enhance digital transformation, as the company expects artificial intelligence to have a significant impact on a wide range of sectors.

It is worth noting that Al-Othaim Investment Company, which was listed among the top 50 real estate developers in the Gulf for the year 2023 and is planning to launch the company on the Saudi stock market, currently owns 12 commercial complexes in addition to the company’s portfolio of investment projects under implementation and in the future, which included: “23” projects distributed across the regions and cities of the Kingdom in (Riyadh, Dammam, Al-Khobar, Jubail, Hail, Al-Kharj, Jazan, Al-Qurayyat, Khamis Mushait, Al-Muthanna, Medina, and Buraidah) with investments exceeding “12” billion riyals. The company includes a number of companies operating in the fields of: “major commercial complexes, hotels, real estate investment, entertainment, cinema, fashion, restaurants and cafes, artificial intelligence, sports centers, residential units, commercial offices, and others.”