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KSA: Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG) have launched Dedicated Housing Company (DHC), a joint venture with an initial SAR2 billion (£400 million) fund, to develop coliving for professionals and students.
DHC will develop and operate Saudi Arabia’s next generation of purpose-built coliving communities. The partnership includes expertise in investment, real estate development, and operations to create an end-to-end platform.
The partners say Dedicated Housing Company was created “to meet the urgent demand for high quality and financially accessible community-centric living environments tailored specifically to the needs of early career professionals, commuters, and higher education students”. DHC is introducing to the Kingdom: URBN Living, designed for working professionals, and award-winning international brand The Myriad, for students.
URBN Living caters to the rising demand for flexible, design forward affordable co-living among young professionals. With a focus on lifestyle, networking, and convenience, URBN Living communities blend premium services and contemporary design to offer more than accommodation, they offer a new standard of living.
The Myriad is a student brand that “successfully incorporates the cultural values and traditions of the Gulf region while delivering a lifestyle built around students. Offering high-quality residences, vibrant communal spaces, and a full calendar of social and eventful programming, it strikes the perfect balance between focus and fun”.
DHC’s rollout is scheduled to start with more than 5,000 beds, with ambitions to scale to 20,000 beds across the Kingdom by 2030.
Vik Rao, group CEO of SHG, said: “We are not just building homes, we are creating places where people truly belong. Our products are unique, as they blend hospitality with residential quality, affordability, along with smart design and vibrant community life, all tailored to today’s generation.”
“This partnership is a significant achievement for the Kingdom and a direct contribution to Vision 2030,” added Abdulrahman Bin Ayed Al-Qahtani, CEO of SGI. “Attracting an international co-living leader like SHG is proof of Saudi Arabia’s ability to bring world-class talent and expertise into the market. This collaboration supports our national goals of enhancing quality of life, diversifying the economy, and setting new benchmarks for how communities are built in the region.”
“From an investment perspective, this project reflects our confidence in the Saudi market and its long-term growth potential,” said Mahmood Al-Kooheji, CEO of Majd Investment. “We are committed to projects that deliver economic impact and exceptional value to residents. This collaboration combines world-class expertise, sustainable design, and strong returns, a powerful formula for the future of housing in the Kingdom.”
Highlights:
• Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG) have launched Dedicated Housing Company (DHC), a joint venture with an initial SAR2 billion (£400 million) fund, to develop coliving for professionals and students
• The partnership includes expertise in investment, real estate development, and operations to create an end-to-end platform
• DHC is introducing to the Kingdom: URBN Living, designed for working professionals, and award-winning international brand The Myriad, for students
