“Asseef Real Estate” acquires a 1-million-square-meter industrial plot in Dhahran, valued at over SAR 430 million

“Asseef Real Estate”, one of the leading investment and real estate development firms in Saudi Arabia, announced the completion of the title transfer process for the acquisition of a major industrial plot in the Dhahran’s Industrial District in the Eastern Province. Covering a total area of 1 million square meters and valued at over SAR 439 million, making it one of the year's most significant industrial acquisition deals.

This milestone marks a key step in the company's strategy to expand within the industrial sector and invest in economically and developmentally impactful locations, in line with national efforts to enhance industrial activities and strengthen the business environment. 

For his part, Rashid bin Abdullah Al Rashid, Chairman of the Board of Directors of “Asseef Real Estate” highlighted the land's strategic location and its role in bolstering industrial development in the Eastern Province.

He stated: "This strategically located industrial site is among the most vital locations in the Eastern Province, given its position on a network of pivotal roads linking Dhahran and Dammam to the most important industrial cities. The region urgently needs such significant opportunities to meet the growing investor demand for factories and to foster an advanced industrial environment that aligns with the Kingdom's Vision 2030 requirements.”

He explained, "Acquiring this land is a strategic step to strengthen our presence in the industrial sector and provide prime development-ready plots for high-quality projects that enhance the manufacturing and logistics system in the Kingdom.”

Abdulhadi bin Fahad Al-Qahtani, the founding partner of “Asseef Real Estate”, commented on the deal, saying: "At Asseef Real Estate, we believe that major real estate opportunities are not merely awaited but proactively seized through expertise and professionalism. Our team conducted an in-depth study of the site, assessed its economic feasibility, and negotiated to secure the strongest possible investment value.”

He continued: decision-making, and directing investments toward locations with strong future development potential. We will continue—God willing—to strengthen our real estate portfolio in ways that reinforce the company’s growth and support the national economy.”

“Asseef Real Estate” affirms that this acquisition is part of its long-term plan to grow in key, high-demand sectors, supporting the Kingdom’s Vision 2030 goals to strengthen the economy, diversify revenue sources, and enhance the industrial investment climate across the Kingdom's regions.