Mulkia Investment Seals Landmark Deal to Acquire Riyadh’s Largest Workforce Housing Complex

A Game-Changing Acquisition Set to Redefine Urban Living in Western Riyadh

In a bold move set to reshape the urban fabric of Riyadh, Mulkia Investment Company has signed a landmark agreement to acquire the Tuwaiq Residential Complex, a sprawling, self-contained mega development and the largest workforce housing project in the capital. The acquisition, carried out on behalf of the Mulkia Tuwaiq Real Estate Fund, signals a new era for institutional real estate investment in Saudi Arabia.

More Than a Deal It’s a Vision Realized

Covering a staggering 710,877 square meters of land and boasting over 1 million square meters of built-up area, the Tuwaiq Residential Complex is not just a development, it’s a vision turned reality. Strategically located at the intersection of Jeddah Road and Najm Al-Din Al-Ayyubi Road, this colossal project is just minutes away from a Riyadh Metro station and surrounded by the city’s most anticipated developments.

This isn’t merely a place to live, it’s a city within a city, built to elevate the standard of living for the Kingdom’s workforce while unlocking unprecedented investment opportunities.

A Blueprint for Modern Workforce Living

The Tuwaiq project is designed with unmatched scale and precision. With 214 residential buildings, 27 mixed-use plots, and a master plan that includes:

• 52 blocks organized across nine dynamic zones
  
• Eight service clusters
  
• Lush public parks and playgrounds
  
• A 120-bed private hospital
  
• Fuel stations, health centers, and a civil defense facility
  
• Integrated utilities, 24/7 security, and advanced surveillance systems
  

This fully integrated urban enclave is tailored to meet the needs of employees and laborers, offering a dignified, secure, and well-connected lifestyle. It redefines how workforce housing can and should be imagined.

Smart Financing, Solid Growth

The acquisition will be financed through Shariah-compliant bank facilities, paired with investor subscriptions to the Mulkia Tuwaiq Real Estate Fund. The fund will drive forward critical development, licensing, and infrastructure milestones, setting the stage for unit sales and long-term value creation.

This strategic blend of ethical financing and smart capital structuring ensures not only robust returns but also alignment with Saudi Arabia’s cultural and economic ethos.

Driving Vision 2030 from the Ground Up

Omar bin Abdulkarim Al-Othaim, CEO of Mulkia Investment Company, emphasized the transformative nature of the acquisition:

“This project is a cornerstone of our strategy to deliver exceptional investment opportunities while directly contributing to Saudi Arabia’s Vision 2030 goals. The Tuwaiq acquisition is not just about real estate, it’s about building the future of Saudi cities, one visionary project at a time.”

By offering modern infrastructure, sustainable growth potential, and long-term social impact, Mulkia is leading the charge toward smarter, more inclusive urban development.

Mulkia: Where Investment Meets Innovation

As a licensed investment firm under the Saudi Capital Market Authority, Mulkia Investment Company continues to set new benchmarks in real estate development, fund management, and Shariah-compliant investment solutions. With the Tuwaiq project, Mulkia reaffirms its position as a trailblazer in building scalable, sustainable communities that create real impact.

The Future of Workforce Living Begins Now

With the Tuwaiq Residential Complex, Mulkia isn’t just investing in land, it’s investing in people, progress, and the promise of a smarter Saudi Arabia. For investors, this is more than a fund, it’s a front-row seat to the future of real estate in the Kingdom.