Porsche Saudi Arabia unveiled its new state-of-the-art center in Alkhobar on May 21. A ribbon-cutting ceremony marked the beginning of the launch event, celebrating the collaboration between SAMACO Motors and Porsche Middle East and Africa on the corporate identity upgrade of the facility.

This new facility encompasses a total area of 1,263 square meters and includes a combined new and pre-owned car showroom designed to meet all “Destination Porsche” requirements. The elevated showroom can accommodate up to 16 car displays and features the brand-associated Carrera Café.

Guests have the opportunity to experience the passion and precision of both new and pre-owned models while enjoying amenities such as a fitting lounge, the Porsche Lifestyle store, and an equipment area, all within the state-of-the-art facility.

Porsche’s commitment to e-performance was also highlighted, with three e-charger outlets available in the parking area — two AC and one DC charging stations.

The event was attended by key representatives from SAMACO Motors, Porsche Middle East and Africa, and Porsche Saudi Arabia.

“This facility represents a significant milestone in the enhancement of the Porsche experience for customers in this region,” said Rashad Embaby, general manager, Porsche Saudi Arabia.

Naif Alrajhi Investment has formed a strategic partnership with Aljazira Capital to launch a closed private real estate investment fund. Valued at SR1.7 billion ($453.2 million), the fund will focus on the development of two high-impact real estate projects in Riyadh and Jeddah.

This partnership underscores the shared investment vision of both companies in the Saudi real estate market and their shared ambition to enhance its appeal by developing innovative, high-value projects. The fund will support the execution of two strategic developments in two of the Kingdom’s most prominent and dynamic cities.

In Riyadh, the fund will support the development of a luxury residential project in Al-Khuzama district, designed to offer a fully integrated residential environment. The project will feature a diverse range of private residences, premium services, and architectural designs aligned with Saudi Arabia’s modern vision. Strategically located near key landmarks in the capital, the project offers strong investment value and serves as an ideal choice for those seeking exceptional living in one of Riyadh’s most prestigious neighborhoods.

In Jeddah, the fund will support a mixed-use development in North Jeddah along King Abdulaziz Road. The project will feature residential and commercial towers, a luxury hotel, office spaces, retail outlets, and dining destinations. Designed to meet the growing demand for integrated, lifestyle-centric developments, the project combines living, working, and leisure in one strategic location. Its architectural design reflects Saudi Arabia’s vision to preserve and modernize the Kingdom’s identity, contributing to the evolving urban landscape of Jeddah in a contemporary and forward-looking way.

Naif Saleh Alrajhi, chairman and CEO of Naif Alrajhi Investment, said: “We are proud to partner with Aljazira Capital in developing two high-impact projects. Strategic locations were carefully selected, and the real estate offerings were designed based on thorough market research and trends, while ensuring alignment with the urban code and architectural identity of each region.” He added: “This collaboration reflects our ongoing commitment to developing distinctive real estate projects that enhance quality of life.”

Naif Al-Mesned, CEO and managing director of Aljazira Capital, said: “At Aljazira Capital, we remain dedicated to offering high-quality investment opportunities that align with our clients’ aspirations and respond to evolving market demands. The launch of this fund, in partnership with Naif Alrajhi Investment as a specialized real estate developer, reflects our strategy to diversify our investment offerings and reinforce our active presence in the real estate sector.”

Bandar Al-Hogail, head of real estate assets at Aljazira Capital, added: “The launch of this fund marks an important milestone in Aljazira Capital’s strategy to offer a diversified portfolio of high-quality real estate investment products.” He added: “Partnering with experienced industry specialists such as Naif Alrajhi Investment — the developer behind the fund’s projects — is a key factor in ensuring project success and achieving targeted returns.”

Naif Alrajhi Investment is one of the Kingdom’s leading investment groups, managing a diversified portfolio with a strong focus on the real estate sector. With a proven track record of success both locally and internationally, the company brings deep expertise and a strategic vision to developing real estate assets that meet the highest standards.