Naif Alrajhi, TGCC partner to execute landmark projects in KSA
In a strategic move aimed at contributing to the continued growth and diversification of Saudi Arabia's real estate sector, Naif Alrajhi Investment, a Saudi investment group and a leader in real estate development, financial markets, and mergers and acquisitions, has entered into a partnership with Travaux Généraux de Construction de Casablanca — a leader in the construction industry — through its Saudi subsidiary TGCC Middle East.
The partnership will collaborate on the construction of projects developed by Naif Alrajhi Investment within the Kingdom, underscoring the strong confidence and significant potential both parties see in the Saudi real estate market. This collaboration builds on the complementary strengths of both organizations and reinforces their shared commitment to contributing to the Kingdom's dynamic growth.
Naif Alrajhi Investment is one of the prominent groups in the Kingdom, managing a diversified investment portfolio with a particular focus on the real estate sector. With a strong track record of successful projects both within Saudi Arabia and internationally, the company continues to demonstrate its extensive expertise and strategic vision in real estate development, further solidifying its position as a key player in the industry.
TGCC stands among the top-tier construction firms operating across Africa and the Middle East. With a proven track record of over 1,000 successfully delivered projects and a workforce exceeding 14,000 employees globally, TGCC generates consolidated revenues of more than 8 billion Moroccan dirhams ($867 million). The company maintains a robust presence in six African countries in addition to the Middle East and is distinguished by its international certifications in quality, safety, and environmental standards. In 2021, TGCC was successfully listed on the Casablanca Stock Exchange, marking a major milestone in its growth journey.
Naif Saleh Alrajhi, chairman and CEO of Naif Alrajhi Investment, said: 'This alliance with TGCC Middle East aligns perfectly with our vision to contribute to the development of vibrant, forward-looking urban environments in Saudi Arabia and beyond. We are pleased to collaborate with a partner known for its technical excellence and reliability. This partnership supports our commitment to Saudi Vision 2030 by enabling the development of high-quality, sustainable projects that serve the needs of tomorrow.'
Mohammed Bouzoubaa, chairman and CEO of TGCC, added: 'This strategic partnership represents a significant step in TGCC's international expansion and demonstrates our strong commitment to supporting Saudi Arabia's ongoing transformation. Through our collaboration with Naif Alrajhi Investment, and by leveraging their deep understanding of the regional market, we aim to deliver projects that set new standards in innovation, sustainability, and execution.'
The agreement reinforces Naif Alrajhi Investment's strategic focus on impactful, high-quality developments that align with national development goals.
'With a shared vision of excellence, the two companies aim to contribute meaningfully to Saudi Arabia's urban and economic evolution,' a statement said.
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