Majd Investment, SGI and SHG launch DHC ...United Arab Emirates

Local News by : (ME CONSTRUCTION NEWS) -

Majd Investment, Sumou Global Investment (SGI), and Strategic Housing Group (SHG) have launched the Dedicated Housing Company (DHC), a joint venture with an initial US $533mn fund which aims to pioneer 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 brings together three industry leaders in investment, real estate development, and operations, said a statement.

The DHC has introduced two new brands to the Kingdom: URBN Living and The Myriad. URBN Living is designed for working professionals, while The Myriad caters to students. URBN Living will address the growing demand for flexible, design-forward, and affordable co-living among young professionals. With a focus on lifestyle, networking, and convenience, these communities blend premium services and contemporary design to offer more than just accommodation, said a statement.

Focusing on students, The Myriad will incorporate the cultural values and traditions of the Gulf region, while delivering a lifestyle centered around students. It aims to offer quality residences, communal spaces, and a full calendar of social and eventful programming. Designed with fully equipped rooms and dedicated on-site support, The Myriad will create a safe and secure environment where students can live, learn, and thrive academically and socially, it added.

Together, these brands will shape the future of residential hospitality, backed by their international operational success. DHC’s rollout begins with over 5,000 beds, with plans to expand 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.”

DHC is said to be 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) experience in co-living and student housing. Together, these three partners form a unique platform, the firm explained.

SHG brings 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, the statement concluded.

Majd Investment, SGI and SHG launch DHC Middle East Construction News.

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