Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG) have launched Dedicated Housing Company (DHC) – a joint venture with an initial SAR2bn ($533m) fund. 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. The DHC 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.
“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.”
Vik Rao, Group CEO, SHG
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.
“From an investment perspective, this project reflects our confidence in the Saudi market and its long-term growth potential.
“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.”
Mahmood Al-Kooheji, CEO, Majd Investment
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 bedrooms, with ambitions to scale to 20,000 bedrooms across the Kingdom by 2030.
