Established in 2007, Ewaan Global Residential Company has emerged as a key player in Saudi Arabia’s real estate sector, focusing on the development of affordable housing solutions that align with the Kingdom’s Vision 2030. Headquartered in Jeddah, Ewaan leverages strategic partnerships and innovative approaches to address the nation’s housing needs.
Company Overview
Ewaan was founded through a collaboration of prominent institutions, including the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group; Al Numu Real Estate Development Company (a SEDCO Group member); the Public Pension Agency; and the International Investment Bank. This consortium brought together financial strength and industry expertise to establish a company dedicated to providing high-quality, affordable housing.
With a paid-up capital of SAR 400 million, Ewaan operates as a closed joint-stock company. Under the leadership of CEO Eng. Fadi Qassim, who brings over 22 years of experience in real estate development and investment banking, the company continues to expand its footprint across the Kingdom.
Flagship Projects
Alfareeda Residential Project
Located in North Jeddah, Alfareeda is Ewaan’s flagship development, encompassing over one million square meters. The project is designed to offer an elevated lifestyle for middle-income families, featuring modern infrastructure and community facilities. Alfareeda is being developed in four phases, with the first three phases comprising 1,200 units already sold out. Phase four, consisting of 500 units, is slated for launch later this year.
Almayaar Residential Project
Adjacent to Alfareeda, Almayaar is a mixed-use development aimed at providing affordable apartment units for small families and singles. The project spans 333,777 square meters and benefits from the infrastructure and amenities established in Alfareeda, including schools, medical centers, mosques, shopping malls, and recreational areas.
Aljawan Residential Project
Aljawan marks Ewaan’s entry into the Riyadh market, offering 345 villas on a 140,809 square meter site. Situated near other major residential developments, Aljawan caters to the growing demand for affordable housing in the capital city.
Limas Gated Community
In the Eastern Province’s Alhamra district of Jubail City, Ewaan is developing Limas, a gated residential complex covering 43,500 square meters. The project addresses the housing needs arising from Jubail’s expanding industrial sector and is expected to accommodate the city’s growing population.
Strategic Initiatives
Young Contractor Program
Ewaan is committed to fostering local talent through its proposed “Young Contractor” program. This initiative aims to train small contractors by involving them in Ewaan’s projects, providing hands-on experience and support to establish their own contracting businesses. By empowering local entrepreneurs, Ewaan contributes to job creation and economic diversification in line with Vision 2030.
Community Engagement
Beyond construction, Ewaan emphasizes community development by integrating essential services and facilities into its projects. By creating self-sustaining neighborhoods with schools, healthcare centers, and recreational areas, Ewaan ensures a holistic living experience for residents.
Alignment with Vision 2030
Ewaan’s focus on affordable housing directly supports Saudi Arabia’s Vision 2030 objectives, which include increasing homeownership rates and enhancing the quality of life for citizens. By delivering well-planned, cost-effective residential solutions, Ewaan addresses the housing gap and contributes to the Kingdom’s socio-economic development goals.
Sustainability also plays a central role in Ewaan’s corporate strategy. The company’s residential projects are designed with careful attention to environmental stewardship, community services, and efficient infrastructure. Each development is integrated with essential facilities such as schools, healthcare centers, mosques, retail outlets, and green spaces, ensuring that residents enjoy a high quality of life without needing to travel far for daily needs. This holistic approach reduces traffic congestion, promotes healthier lifestyles, and fosters social cohesion within communities.
Market Position and Outlook
As one of the top real estate companies in Saudi Arabia, Ewaan continues to expand its portfolio and explore new opportunities. The company’s strategic partnerships, innovative projects, and commitment to affordability position it as a leader in the Kingdom’s evolving real estate landscape.
Ultimately, Ewaan Global Residential Company represents a new breed of real estate developer—one that measures success not just by the number of units sold, but by the strength of the communities it creates. As Saudi Arabia marches confidently towards its Vision 2030 goals, companies like Ewaan will play an essential role in building the inclusive, sustainable, and prosperous urban environments that the future demands.
Ewaan Global Residential Company exemplifies the transformative potential of strategic collaboration and innovative thinking in addressing Saudi Arabia’s housing challenges. With a clear vision aligned with national objectives, Ewaan continues to shape the Kingdom’s urban landscape, offering affordable, high-quality living solutions that meet the needs of its growing population.
Pre-Conclusion: A Vision for Sustainable Communities and Affordable Growth
Ewaan Global Residential Company stands at the intersection of necessity and opportunity in Saudi Arabia’s dynamic real estate market. More than just a developer of housing units, Ewaan has consistently positioned itself as a catalyst for community-building, social mobility, and national progress. Through its projects across Jeddah, Riyadh, and Jubail, the company showcases an innovative model where real estate development is not merely about construction, but about creating lasting value for residents and cities alike.
A key differentiator for Ewaan is its unrelenting focus on affordable housing—a segment that is critically important for Saudi Arabia’s Vision 2030 objectives, yet often underserved by larger developers chasing luxury markets. In a nation experiencing rapid urbanization, population growth, and socio-economic transformation, the need for well-designed, accessible housing solutions cannot be overstated. Ewaan’s developments, such as Alfareeda and Almayaar in Jeddah and Aljawan in Riyadh, directly respond to this demand, offering modern, thoughtfully planned communities without the prohibitive costs typically associated with quality residential developments.
Moreover, Ewaan’s commitment extends beyond brick and mortar. Its “Young Contractor Program” demonstrates a sophisticated understanding that sustainable growth requires investing in human capital alongside physical infrastructure. By nurturing a new generation of Saudi contractors, Ewaan empowers local talent, creates new job opportunities, and promotes entrepreneurship. This kind of forward-thinking initiative is essential for building a diversified, knowledge-based economy, which remains a cornerstone of Saudi Arabia’s long-term ambitions.
Conclusion
Ewaan’s market responsiveness has proven crucial. Recognizing that the aspirations of Saudi families are evolving, the company designs its projects to meet contemporary lifestyle preferences. From spacious villas for growing families to compact apartments for young professionals, Ewaan offers a wide variety of housing types, ensuring inclusivity across different demographics and income levels.
Strategic partnerships have further fueled Ewaan’s growth trajectory. Backed by major shareholders like the Islamic Corporation for the Development of the Private Sector (ICD) and SEDCO Group, the company benefits from both financial strength and unparalleled industry expertise. These alliances allow Ewaan to scale quickly, maintain operational resilience, and deliver projects that meet the highest standards of quality and sustainability.
