Majd Investment, SGI, and SHG unite to create transformative community living for professionals and students
Saudi Arabia’s housing landscape is evolving with the launch of Dedicated Housing Company (DHC), a joint venture between Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG). With an initial fund of SAR 2 billion, DHC aims to become the Kingdom’s leading developer and operator of purpose-built co-living communities for professionals and students, combining world-class investment, development, and operational expertise.
Purpose-Built Communities for a New Generation
Dedicated Housing Company DHC was created to address the growing demand for high-quality, community-oriented housing that’s both affordable and tailored to early-career professionals, commuters, and students. The company introduces two key brands to the Kingdom: URBN Living for working professionals and the award-winning international brand The Myriad for students.
URBN Living offers flexible, design-focused co-living spaces that prioritize lifestyle, networking, and convenience. The Myriad, already a recognized leader in student living, provides a balance between cultural authenticity and modern amenities, offering vibrant communal spaces, on-site support, and a robust events calendar.
SAR 2 billion fund to transform co-living in Saudi Arabia
Together, these brands redefine residential hospitality. The initial rollout includes over 5,000 beds, with plans to reach 20,000 beds by 2030.
“We are not just building homes, we are creating places where people truly belong,” said Vik Rao, Group CEO of SHG. “A unique approach, 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.”
Over 5,000 beds planned in first rollout phase
Strategic Vision Backed by Expertise
DHC is built on a fully integrated partnership spanning investment, development, and operations. SGI, the real estate arm of Sumou Holding, and Majd Investment bring regional and international development strength, while SHG contributes global operational experience and brand leadership.
The collaboration forms a powerful platform where SHG delivers lifestyle-driven residential expertise, and SGI and Majd provide local insight and prime land access—positioning DHC to lead the co-living sector with agility and scale.
Partnership supports Vision 2030 and national housing goals
Majd Investment manages the wealth of the Al Majdouie family through a diversified portfolio that includes private equity, marketable securities, and real estate. With a focus on sustainability and long-term value creation, Majd actively invests in industries shaping a brighter, more responsible future.
A key player in Saudi Arabia’s real estate development sector, SGI oversees over 60 million square meters of land and projects exceeding SAR 30 billion in total cost. Since its founding in 2007, SGI has played a pivotal role in transforming urban environments aligned with Vision 2030, spanning residential, commercial, and mixed-use developments.
SHG is an international developer and operator of award-winning co-living and student housing communities, including The Myriad and URBN Living. With over 7,000 residents housed to date, SHG’s commitment to quality, experience, and community has earned global recognition. Its partner, Asset Living, is one of the largest property management firms in the U.S., managing over 450,000 units nationwide.
FOR MORE INFORMATION
Majd Investment: info@majd.sa
Sumou Global Investment: info@sumouholding.com
Strategic Housing Group: info@strategichousinggroup.com
Dedicated Housing Company: info@dedicatedhousingco.com
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