Annual Report 2025
At Alandalus Property, every project we create is a step toward a more connected, sustainable, and vibrant future. Through innovation, vision, and a commitment to excellence, we continue to shape destinations that inspire communities and create lasting value for generations to come.
It is my honor to present to you the Annual Report of Alandalus Property Company for the year 2025 - a year marked by significant achievements and strategic milestones that further strengthened the Company’s position as a leading developer and operator in the commercial center and mixed-use project sectors within the Kingdom of Saudi Arabia.
Chairman of The Board of Directors
Mr. Abdulsalam Bin Abdulrahman Al-Aqeel
It is my pleasure to present to you the performance of Alandalus Property for 2025 — a year characterized by operational discipline, enhanced efficiency, and the effective execution of our strategy into measurable outcomes that support sustainable growth and long-term value creation for our shareholders.
Chief Executive Officer
Eng. Faisal Bin Abdulrahman Al-Nasser
A concise overview of Alandalus Property Company’s 2025 performance, strategic achievements, and operational progress, highlighting the Company’s continued focus on sustainable growth, portfolio diversification, operational excellence, and alignment with Saudi Vision 2030.
Driven by the 2025 theme “Growth Reinforces Sustainability,” Alandalus Property Company continued strengthening its operational and investment strategy through enhancing commercial asset performance, advancing future developments, pursuing strategic investment opportunities, and building long-term partnerships that support sustainable value creation and reinforce the Company’s leadership position within the Saudi real estate sector.
Continuous enhancement of operational performance through the development, management, and leasing of the Company’s commercial centers, with a focus on maximizing occupancy rates, improving tenant mix, enhancing customer experience, and increasing operational efficiency across existing assets.
Pursuing full or partial acquisitions of established projects with strong performance, or projects identified by management as offering compelling opportunities for operational enhancement, portfolio growth, and long-term value creation.
Developing new projects within the commercial center sector, in addition to hospitality, office, and mixed-use developments, to diversify income sources and strengthen the resilience of the Company’s investment portfolio.
Building strategic partnerships with local and international investors and partners to deliver high-quality projects, strengthen competitiveness, and integrate expertise and resources across the sectors in which the Company operates.
A strategic office project located on King Salman Road in Riyadh, 100% owned by Alandalus Property Company through one of its subsidiaries, Mawared Al-Tamayuz Real Estate Company, and being developed by Alandalus Property Company. The project consists of a modern office building with an estimated built-up area of 30,004 sqm. As of 31 December 2025, reinforced concrete works, columns, and walls reached 50% completion.
A premium commercial center project located in Umm Jurfaan District (New Naqa), southwest of Makkah on the Fourth Ring Road. The project spans a land area of 127,434 sqm and is being developed through the project company, Masat Real Estate Company. Construction progress reached 49% by the end of 2025.
A strategic land investment located in Al Sawari District on Madinah Road in Jeddah with a total land area of 130,477 sqm. The Company continues evaluating the optimal investment use for the land following a reassessment of the original development plans, ensuring alignment with market opportunities and long-term shareholder value.
Celebrating milestones, partnerships, awards, and achievements shaping our contribution to Saudi Arabia’s evolving real estate landscape.
Al Andalus Real Estate Company received the King Khalid Award for Sustainability Standards Pioneers.
Al Andalus Real Estate Company received the Best Developer Award in the Kingdom of Saudi Arabia.
Al Andalus Real Estate Company received the Best Corporate Governance Award.
The Middle East Council of Shopping Centres and Retailers (MECSR)
A portfolio of high-performing retail and commercial destinations serving millions of visitors every year.
View Destinations
One of Jeddah’s leading retail destinations, offering a diverse mix of shopping, dining, entertainment, and lifestyle experiences and welcoming more than 10 million visitors in 2025.
A major retail and entertainment destination in North Riyadh, combining a strong mix of international and local brands with dining, entertainment, and lifestyle experiences.
A regional retail destination on the Dammam Corniche serving the Eastern Province, with a diverse mix of shopping, dining, and family entertainment experiences.
A contemporary retail and lifestyle destination in northern Jeddah serving one of the city’s fastest-growing districts, with shopping, dining, entertainment, and sustainability-led features.
A neighbourhood retail destination in northern Riyadh serving the daily shopping and service needs of the surrounding community.
A community-focused retail destination in the Al Malqa district of northern Riyadh, designed to meet the daily needs of nearby residents.
A neighbourhood retail destination in northeastern Riyadh serving surrounding residential communities.
The Company’s headquarters in Riyadh’s Al Wadi District, wholly owned by Alandalus Property Company.
A major commercial office tower in Jeddah’s Al Salamah district, offering 84 offices across a strategically located property near King Abdulaziz International Airport.
A modern three-building office complex in Riyadh’s Al Ghadeer district, strategically located near King Abdullah Financial District.
A 14-storey commercial office tower in Riyadh’s Al Yasmin district, fully leased to the Government Expenditure and Project Efficiency Authority (EXPRO).
A 164-room hotel adjacent to Alandalus Mall in Jeddah, operated under the DoubleTree by Hilton brand and offering meeting, dining, recreational, and health facilities.
A modern healthcare facility in West Jeddah, operated by Dr. Sulaiman Al Habib Medical Group and providing 350 beds and 245 outpatient clinics.
Alandalus Property Company continues to strengthen its corporate governance framework by promoting transparency, accountability, ethical business practices, and effective oversight across all levels of the organization. Through a robust governance structure, comprehensive risk management processes, and adherence to regulatory requirements, the Company ensures sound decision-making that supports sustainable growth and protects stakeholder interests.
During 2025, the Company further enhanced its governance practices by advancing compliance systems, strengthening internal controls, and maintaining alignment with leading corporate governance standards. These efforts support operational excellence, reinforce investor confidence, and contribute to the long-term resilience of the business.
Guided by the objectives of Saudi Vision 2030, Alandalus remains committed to creating sustainable value through responsible leadership, effective governance, and a culture of integrity that supports the Company’s strategic ambitions and future growth.
Explore Annual Report 2025
We invite you to take a look at our full report prepared in partnership with Al Andalus Corporate
