Al Khozama Company revealed new developments after changing its logo, as it announced that it has allocated 1.3 riyals to merge Al Faisaliah Mall and Al Khozama Center and make them one property under a new name; Al Faisaliah District, to be the first integrated commercial area in the Kingdom, in cooperation with the real estate development giant - Gensler.<\/p>\n
The company has also strengthened its hotel and resort management unit with a new name, Al Khozama Hotels & Resorts, to manage all of the parent company's properties and assets, including resorts, apartments, hotels and furnished suites<\/p>\n
The move comes in the context of the company's strategic transformation to keep pace with the changes and developments witnessed by the Saudi market.<\/p>\n
For decades, Al Khozama has been committed to showcasing the Kingdom's attractions, aesthetics and culture, which has enabled it to play a leading role across the industry and drive demand in the luxury brand market. With this leap and the rebranding to Al Khozama, the company seeks to transform from a luxury real estate asset management company to a company that creates destinations, attractions and exceptional experiences for all customers.<\/p>\n
Abdulaziz Al Habib, CEO of Al Khozama, said: \u201dWe are expanding our business and moving towards our new business model in the field of asset management in order to keep pace with the continuous and rapid developments in the Saudi market and to create added value for our stakeholders. This decision is supported by the Board of Directors, as it is based on a holistic view of the company's business and the needs of the community, market, partners and employees. It is also driven by our ambition to create a more successful and sustainable business that creates significant impact within the community in which we operate. We believe this is the most appropriate model to ensure a better future for the company. As such, it was only natural that we sought to rebrand as a reflection of the way we work and think.\u201d<\/p>\n
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