Al-Riyadh Development Company was founded on 09/02/1414 A.H as a Saudi Joint Stock Company, by virtue of the Royal Decree No. (M / 2) to become the creation of enlightened ideas espoused by His Royal Highness Prince Salman Bin Abdul Aziz, Prince of Al-Riyadh region and Honorary President of the Board of Directors. These remarkable efforts led to the emergence of development projects on two parallel paths. One consisted of building, operating, and managing service projects and public benefit in contribution with the government in a certain way; whereas the company was able to create and manage 4 service projects, through which national qualified cadres were working and their numbers reached more than 200 employees. These projects serve more than 2000 clients and tenants and more than 20 million citizens and residents.
These projects are:
- Al-Riyadh Development Market for Vegetables and Fruits Wholesale or Taamer Market for Vegetables and Fruits Wholesale in Al-Riyadh.
- Al-Riyadh Public Transportation Development Center or Taamer Public Transportation Center in Al-Riyadh.
- Al-Riyadh International Development Car Auction or Taamer International Car Auction in Al-Riyadh.
- Al-Bathaa Meat, Vegetables and Fish Development Market or Taamer Market for Meat, Vegetables and Fish in Al-Bathaa.
The other path consisted of investing in real estate “residential and commercial” projects, where the company has succeeded in facing the rapid developments taking place in Al-Riyadh by applying its creative philosophy in design and development, which resulted in producing civilized real estate in line with the aspirations of Al-Riyadh development programs. These products were represented in the establishment and development of 5 major projects, which are:
Maintaining the company’s leadership in contributing with the public sector to invest in service projects and public benefit in contribution with the government, by creating new investment opportunities in this area, as well as horizontal expansion to some service projects of general interest, while transferring its rich experience in the building and operation of useful projects, such as public transportation Development Center, Development Market for Vegetables and Fruits Wholesale, International Development Car Auction in Al-Riyadh and Al-Bathaa Meat, Vegetable and Fish Development Market, to other regions in the Kingdom (or use the Arabic names of the projects).
Maintaining the distinction of the company’s projects in the planning and the establishment of typical residential neighborhoods.
Pursuing a policy of diversification of investments by adding the vertical real estate investment which consists of owning a land fit for construction, and planning and developing the same, as well as establishing residential, commercial and office buildings therein and selling or leasing the same.
eading the way in the development of downtown with a new investment and economic policy.