Al-Khuzama Company has revealed new developments following its rebranding, announcing that it has allocated 1.3 riyals to merge Al-Faisaliah Mall and Al-Khuzama Center into a single property under a new name: “Al-Faisaliah District,” making it the first integrated commercial district in the Kingdom, in collaboration with real estate development giant Gensler.

The company has also strengthened its hotel and resort management division under a new name “Al-Khuzama Hotels and Resorts,” entrusting it with the management of all the parent company’s properties and assets, including resorts, apartments, hotels, and furnished suites.

This move is part of the company’s strategic transformation to keep pace with the changes and developments in the Saudi market.

For decades, Al Khazama has been committed to highlighting the Kingdom’s most important tourist attractions and its aesthetic and cultural features, which has enabled it to play a leading role across the sector and drive demand in the luxury brand market. Through this qualitative leap and the change of its brand name to “Al Khazama,” the company aims to transform itself from a firm specializing in luxury real estate asset management into a company that creates tourist destinations and delivers exceptional experiences to all customers.

Abdulaziz Al-Habib, CEO of Al Khazama, said: “This new model expands the company’s operations and shifts us toward our new business model in asset management, with the aim of keeping pace with the continuous and rapid developments in the Saudi market and creating added value for our stakeholders. This decision has the support of the Board of Directors, as it is based on a holistic view of the company’s operations and the needs of society, the market, our partners, and our employees. It also stems from our ambition to achieve greater success and sustainability and to make a significant impact within the community in which we operate. We are confident that this is the most appropriate model to ensure a better future for the company. Therefore, it was only natural for us to seek to change our corporate slogan, as this reflects the change in our way of working and thinking as well.”