0:00
0:00
RASM Explores International Partnerships to Strengthen Saudi Real Estate Market Position
Newly launched Saudi property management firm RASM is considering global collaborations to enhance its role in the Kingdom's growing real estate sector.
Saudi Arabia's property management firm RASM is actively seeking international partnerships to bolster its presence in the nation's expanding real estate market.
Chief Executive Officer Artin Malatjalian disclosed that the company is in discussions with three major global entities in the same field, with potential announcements expected in the latter half of this year.Established to specialize in regional malls, community centers, and mixed-use developments, RASM aims to address the needs of investors, owners, and retailers within Saudi Arabia.
The firm's strategic move to collaborate internationally aligns with the Kingdom's Vision 2030 initiative, which emphasizes economic diversification and the strengthening of the real estate sector.The Saudi real estate market is on a growth trajectory, with projections indicating a market value of approximately $126.8 billion by 2032, reflecting a compound annual growth rate of 7.30% from 2025 to 2032. This expansion is driven by rising urbanization and increased demand for residential and commercial properties.In its current operations, RASM manages the Red Sea Mall in Jeddah and is overseeing the development of The Point, a new project in Abha.
The company also plans to establish a presence in Riyadh, the Eastern region, Makkah, and Madinah.
Additionally, RASM is exploring partnerships with technology firms to enhance its offerings in the property management sector.Looking ahead, the firm has set a long-term objective to go public within the next three to five years.
In the immediate term, RASM is focused on building its senior-level team, aiming to have key positions filled by June.
Chief Executive Officer Artin Malatjalian disclosed that the company is in discussions with three major global entities in the same field, with potential announcements expected in the latter half of this year.Established to specialize in regional malls, community centers, and mixed-use developments, RASM aims to address the needs of investors, owners, and retailers within Saudi Arabia.
The firm's strategic move to collaborate internationally aligns with the Kingdom's Vision 2030 initiative, which emphasizes economic diversification and the strengthening of the real estate sector.The Saudi real estate market is on a growth trajectory, with projections indicating a market value of approximately $126.8 billion by 2032, reflecting a compound annual growth rate of 7.30% from 2025 to 2032. This expansion is driven by rising urbanization and increased demand for residential and commercial properties.In its current operations, RASM manages the Red Sea Mall in Jeddah and is overseeing the development of The Point, a new project in Abha.
The company also plans to establish a presence in Riyadh, the Eastern region, Makkah, and Madinah.
Additionally, RASM is exploring partnerships with technology firms to enhance its offerings in the property management sector.Looking ahead, the firm has set a long-term objective to go public within the next three to five years.
In the immediate term, RASM is focused on building its senior-level team, aiming to have key positions filled by June.
