Riyadh, Kingdom of Saudi Arabia: 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.
About Majd Investment
Majd Investment is a leading investment and development company entrusted with managing the wealth of the Al Majdouie family. With a disciplined, long-term approach, Majd invests across a diversified portfolio of asset classes; both locally and internationally. The company has developed strong capabilities in private equity, where it takes strategic positions in high-potential businesses to drive long-term value creation; in marketable securities, through active investments in regional and global markets; and in real estate, spanning various sectors. By maintaining exposure across these core asset classes, Majd ensures a resilient and well-balanced portfolio. With a keen focus on industries and sectors shaping a brighter and more sustainable future, Majd seeks to make responsible investments that benefit both society and the environment.
About Sumou Global Investment (SGI)
Sumou Global Investment (SGI) is one of the Kingdom’s foremost real estate developers, with a portfolio spanning over 60 million square meters of land under development and projects exceeding SAR 30 billion in total development cost. Established in 2007, Sumou has nearly two decades of experience in shaping transformative urban environments across Saudi Arabia. Its real estate development arm, Sumou Global Investment (SGI), leads the group’s efforts in master planning and delivering large-scale residential, commercial, and mixed-use projects aligned with the Kingdom’s Vision 2030. Sumou also owns one of Saudi Arabia’s leading real estate marketing and brokerage platforms, which has facilitated more than SAR 44 billion in sales since 2020, providing full-spectrum capabilities across development and commercialisation.
About Strategic Housing Group (SHG)
Strategic Housing Group (SHG) is an international developer and operator of award-winning student and co-living communities. With units for over 7,000 residents developed and operated to date, SHG brings unmatched operational expertise in lifestyle driven residential living. The group’s brands, including The Myriad and URBN Living, are globally recognised for their focus on community, experience, and excellence, earning multiple awards and consistently delivering maximum occupancy and satisfaction rates. SHG’s joint venture partner, Asset Living, is one of the largest property management firms in the U.S., managing over 450,000 units nationwide, ranging from student accommodation to multi-family and co-living.
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