DHC will operate under two core brands: URBN Living, aimed at young professionals seeking flexibility and community-driven environments, and The Myriad, designed for student residents combining study-friendly amenities with social infrastructure. Its founders project a bed-count expansion from an initial deployment to 20,000 units across Saudi Arabia by 2030.
The trio behind DHC bring complementary strengths. SGI holds a strong track record in Saudi real estate development, managing large-scale land assets and mixed-use projects. Majd Investment brings capital expertise and strategic portfolio management. SHG, with prior experience operating student and co-living properties globally, will offer operational models and lifestyle programming.
Officials have emphasised that DHC aligns with the Kingdom’s Vision 2030 goals to diversify housing offerings, enhance quality of life, and support a growing workforce and student population. The venture asserts its intent to bridge a gap in the market: while existing housing projects tend to favour traditional home ownership or standard rentals, co-living offers compact private units alongside shared communal facilities, services, and amenity packages.
Locations for initial developments are expected to target major population centres such as Riyadh, Jeddah, Dammam, and Al Khobar. DHC has indicated a phased rollout, with pilot communities slated to open within the next two years. To ensure financial viability, the business model leans on high occupancy rates, flexible lease tenures, and value-added services.
Observers note the global rise of co-living as a solution to high urban housing costs, changing work patterns, and increasing preference among younger demographics for community and convenience. Saudi Arabia’s demographic profile—relatively young, urbanising, and increasingly mobile—makes it fertile ground for such models. Developers already active in the region have flagged that student housing and shared living models are underdeveloped compared to Western or East Asian markets.
Critics, however, warn of potential challenges. Regulatory barriers in zoning and tenancy law, cultural acceptance of communal living norms, and infrastructure pressures in fast-growing urban zones may slow execution. Ensuring affordability while maintaining service standards, and avoiding tenant turnover risk, will demand tight operational control.
To mitigate risks, DHC is expected to leverage partnerships with universities, employers, and local government bodies for land access, financing support, and demand aggregation. Negotiations with public universities and major corporations to reserve blocks of beds for their students or employees are reportedly underway.
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Saudi Arabia