Riyadh - Sharikat Mubasher: Saudi Arabia’s Smart Accommodation for Residential Complexes (SARCC) acquired the prominent Al Nakhla Residential Resort in Riyadh for SAR 2.5 billion, achieving a significant milestone in its journey.

Through this acquisition, SARCC aims to transform employee accommodation in Saudi Arabia and reinforce its mission to transform living spaces into innovative, world-class communities that foster professional success and enhance well-being in alignment with Vision 2030, the company announced in a recent statement.

SARCC also entered into a comprehensive resort management agreement with Al Nakhla Investment to ensure continued operational excellence in leasing, marketing, and maintenance.

Al Nakhla Residential Resort is located in Northern Riyadh and features a luxurious design, strategic location, and world-class amenities, including 23 swimming pools, sports courts, gyms, a golf simulator, and parks. SARCC targets maintaining the resort’s reputation as a premier residential destination for senior management professionals.

Commenting on the acquisition, Mark Taylor, CEO of SARCC, said: “The acquisition of Al Nakhla Residential Resort and our partnership with Al Nakhla Investment Company represents a pivotal moment for SARCC as we aim to set new benchmarks in residential excellence.”

For his part, Salama Saidan, Chairman of Al Nakhla Investment, stated: "We are proud to collaborate with SARCC in its mission to revolutionize the employee accommodation sector. By leveraging our expertise, we aim to elevate operational standards and provide an unmatched living experience for Al Nakhla residents."

Last October, the Public Investment Fund (PIF) established SARCC to cater to the demand for accommodation solutions for both public and private projects across the Kingdom.