ZAWYA-PROJECTS: Osool & Bakheet launches $190mln fund to develop luxury hotel in Al Khobar

OSOOL AND BAKHEET
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OSOOL AND BAKHEET

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First published: 22-Jun-2026 13:15:12

Staff Writer

Osool & Bakheet Investment Company has launched a private real estate investment fund with plans to develop a luxury hotel in Al Khobar.

Osool & Bakheet Ashad Al Hamra Hotel Development Fund has a target size of 713 million Saudi riyals ($189.95 million), including bank financing, the company said in a statement to the Saudi stock exchange.
 
The fund aims to acquire a land plot in Al Khobar and develop a luxury hotel project, capitalising on growth opportunities in Saudi Arabia's tourism sector.
 
Osool & Bakheet, the fund manager, predicts the fund to have a positive financial impact in 2026, contributing more than 5 percent of the company's 2025 revenues.

Editing by Anoop Menon) (anoop.menon@lseg.com)

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