SAR 2 Billion Fund to Pioneer Co-living for Professionals and Students in KSA

Riyadh, Kingdom of Saudi Arabia: October 7, 2025 –

Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG) have launched Dedicated Housing Company (DHC), a joint venture with an initial SAR 2 billion fund, pioneering co-living for professionals and students. Positioned to lead the sector, DHC will develop and operate Saudi Arabia’s next generation of purpose-built co-living communities.

This partnership unites three industry leaders in investment, real estate development, and revolutionary operations to create a platform that will serve and lead the market.

Purpose Built Communities for a New Generation

The 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 leader in student living 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. Thoughtfully designed with fully equipped rooms and dedicated on-site support, creating a safe and secure environment where students can live, learn, and thrive both academically and socially.

Together, these brands are shaping the future of residential hospitality, backed by operational success internationally. DHC’s rollout begins with over 5,000 beds, with ambitions to scale to 20,000 beds across the Kingdom by 2030.

“We are not just building homes, we are creating places where people truly belong,” said Vik Rao, Group CEO of SHG. “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,” stated 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.”

Strategic Vision Backed by Unrivalled Expertise

DHC is built on a strong partnership between development, operations, and investment. The joint venture brings together Sumou Global Investment (SGI) and Majd Investment’s local expertise and land access with Strategic Housing Group’s (SHG) award-winning experience in co-living and student housing. Together, these three partners form a unique platform. SHG brings its award-winning track record as a specialised developer and operator of lifestyle-driven co-living and student housing communities. SGI and Majd contribute deep local development capabilities, prime land access, and the capacity to deliver at national scale. This combination creates a unique platform with the scale, speed, and expertise to lead Saudi Arabia’s co-living sector.