Riyadh, Saudi Arabia – RASM, a newly established Saudi property management firm, is actively exploring international partnerships to bolster its position in the Kingdom’s burgeoning real estate market, according to the company’s CEO, Artin Malatjalian.
In an exclusive interview, Malatjalian outlined the firm’s ambitious plans to collaborate with international companies in the property sector. Although he withheld specific details, he noted that RASM is in discussions with several major global players, with potential announcements expected later this year.
Specializing in regional malls, community centers, and mixed-use developments, RASM is focused on addressing the diverse needs of investors, owners, and retailers. Its entry into the market underscores the rapid growth of Saudi Arabia’s real estate sector, projected to reach a value of $101.62 billion by 2029, with a robust annual growth rate of 8 percent.
“We are seriously considering strategic partnerships with global firms to elevate our capabilities,” Malatjalian said. “While I cannot disclose the names at this moment, we have identified three key international players that we are actively engaging with. This collaboration will enable us to take RASM to the next level.”
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Malatjalian emphasized that while RASM’s rapid expansion, market presence, and agile decision-making set it apart, international partnerships remain essential for the company’s long-term vision of becoming a global leader in property management.
“We are focused on scaling quickly, but we also recognize that we cannot be a true center of excellence without collaborating with leading international service providers,” he explained. “We expect to announce new partnerships in the second half of this year.”
Looking ahead, RASM has set its sights on a public offering, with Malatjalian projecting that the firm will be ready to file for an IPO within three to five years. However, in the immediate term, the company’s priority is building a strong team, with senior executives expected to be fully operational by June.
Already managing the renowned Red Sea Mall in Jeddah, RASM is also overseeing the development of The Point, a new mixed-use project currently under construction in Abha. The firm is planning to expand its footprint into key cities, including Riyadh, Makkah, Madinah, and the Eastern Province.
In addition to real estate ventures, RASM is exploring potential collaborations with technology firms to enhance its offerings, setting itself apart in a competitive property management market.
As Saudi Arabia’s real estate sector continues to flourish, RASM’s strategic growth through partnerships and technological innovation positions it to become a significant player in both the regional and global markets.
