Osool To Manage GOSI’s Real Estate Portfolio

The company will manage spaces like Digital City, Granada Mall and Granada Business Park

Osool, a leading integrated real estate company in Saudi Arabia, said it has been signed up by the kingdom's General Organization for Social Insurance (GOSI) to manage the entirety of its local income generating real estate portfolio which includes more than 29 prime assets. These include Digital City - an office-dominated, mixed-use complex in Al Nakheel, Riyadh; Granada Mall, a leading urban mixed-use complex located in the Granada District of Riyadh and Granada Business Park, a sprawling commercial development housing 11 buildings featuring 131,867 sq m offices and 283 sq m of F&B. The assets also include Olaya Towers, the trio of Madinah Buildings, and Obhur city: a well-appointed residential development comprised of over 2,500 modern apartments.

With this deal, Osool, an integrated real estate company established by GOSI, has taken another important step towards transforming the performance of one of the kingdom’s largest diversified real estate investment portfolios. Said Abdulfattah Kurdi, the CEO of the company, “At a time when the kingdom is making tremendous strides towards realising its potential as a leading global investment destination, each and every single one of us at Osool is determined to contribute to the transformation of GOSI’s real estate portfolio by providing the highest level of services to tenants and end-users.”

“Having merged GOSI’s legacy managing agents, taking over the responsibility to oversee the organisation’s diverse portfolio — including Jawda, Raza and GOSI’s Property Management Department — Osool will now manage over 29 assets commercial, residential, and retail assets across the kingdom,” noted Kurdi. “Informed by our customer-centric and value-driven approach, our work is fully geared towards elevating the portfolio we are mandated with managing and making it one of the best managed portfolios in the Kingdom. Ours is a strategy that places an emphasis on quality and service excellence at every touchpoint. We place an emphasis on elevating the customer experience, which will — in turn — maximize the portfolio’s value and returns,” he added.

According to him, these assets are of different classes, including commercial, residential, and retail. They consist of over 1700 buildings with a total leasable area of 4 million sq m. Osool’s activities are overseen by Hassana, the investment management company that manages the entire GOSI portfolio globally, he added.