MASIC is capitalizing on its heritage in real estate development and investment to consolidate its position in the Kingdom as an innovative market maker in real estate development and a lead investor in local real estate funds. MASIC’s strategy of local land development contributes towards the improvement of the Kingdom’s infrastructure overall and is perfectly aligned with its Vision 2030. This is achieved through MASIC’s investment in local real estate development platforms and its partnerships with leading real estate developers.
MASIC’s real estate investments include the following:
A mixed-use retail and offices property located at a prime location on Prince Mohammed ibn Abdulaziz Street (aka Tahliah Street) in Riyadh. The property has a net leasable area of 11,566 sqm, including 3,591 sqm of retail space and 7,975 sqm of offices. Tenants include Eataly, Karam Beirut, le Relais de l’Entrecote, and kampai.
A mixed-use retail and offices property located at a prime location in the Olaya District on King Fahad Road in Riyadh. The property has a net leasable area of approximately 10,000 sqm, including 8,047 sqm of retail space. Tenants include Zara Home, Orange Bed & Bath, and Massimo Dutti.
A mixed-use retail and offices property located at a prime location on the King Road in Jeddah. The property has a net leasable area of 14,014 sqm, including 1,999 sqm of retail space and 12,015 sqm of offices. Tenants include Tawuniya, Ferrero Rocher, and Kia.
An office building located at a prime location on King Saud Road in Riyadh. The property has a net leasable area of 21,673 sqm. Tenants include Airbus, Medgulf, and Desert Technologies.
Alfadhili Field Housing Complex
Saudi Aramco selected MASIC to develop, construct and operate a permanent staff housing compound near Alfadhili Field in the Eastern Province. The housing complex was inaugurated in early 2021 with a capacity of approximately 2,500 units accommodating Saudi Aramco employees. The housing complex includes apartment buildings, as well as recreational and support facilities, and is jointly owned between Wisayah Global Investment Company (a subsidiary of Saudi Aramco) and MASIC Logistics, a wholly-owned subsidiary of MASIC.