First Projects Company Market Research Report

Background

Company Overview

First Projects Company is a prominent real estate development firm headquartered in Riyadh, Saudi Arabia. Established over 15 years ago, the company has significantly influenced the Saudi real estate market by delivering integrated residential and commercial developments that align with the nation's Vision 2030 objectives. Their portfolio encompasses a diverse range of projects, including luxury residences, commercial office spaces, and hospitality ventures. The company's mission is to enhance the quality of life through innovative and sustainable real estate solutions.

Mission and Vision

Mission: To develop high-quality, sustainable environments that focus on human well-being, embrace responsible development, and aim to create long-term value.

Vision: To be a leading group in providing innovative real estate and projects that contribute to improving the quality of life and the urban environment, with a focus on core values and a commitment to serving customers and partners.

Industry Significance

First Projects Company plays a pivotal role in Saudi Arabia's real estate sector by introducing modern architectural designs and sustainable development practices. Their projects not only meet the evolving needs of the market but also contribute to the economic diversification and urban development goals outlined in Saudi Vision 2030.

Key Strategic Focus

Core Objectives

Innovation: Integrating cutting-edge designs and technologies to create unique living and working spaces.

Sustainability: Implementing eco-friendly practices to ensure long-term environmental responsibility.

Community Development: Building integrated communities that foster social interaction and a high quality of life.

Areas of Specialization

Residential Developments: Creating luxury compounds and villas that offer modern amenities and comfort.

Commercial Projects: Developing office spaces and mixed-use developments that cater to business needs.

Hospitality Ventures: Establishing hotels and leisure facilities that enhance the tourism and hospitality sector.

Key Technologies Utilized

Smart Building Systems: Incorporating automation and energy-efficient technologies to enhance building performance.

Sustainable Materials: Utilizing eco-friendly construction materials to reduce environmental impact.

Primary Markets Targeted

Saudi Arabia: Focusing on major cities like Riyadh and Jeddah to meet the growing demand for quality real estate.

United Kingdom: Expanding into the UK market with projects in London, catering to both local and international investors.

Financials and Funding

Funding History

Specific details regarding First Projects Company's funding history, total funds raised, and recent funding rounds are not publicly disclosed. The company operates as a privately held entity, and financial information is not readily available.

Notable Investors

Information about individual investors or investment groups backing First Projects Company is not publicly disclosed.

Utilization of Capital

The capital raised is primarily allocated towards land acquisition, project development, construction, and marketing efforts to ensure the successful delivery of their real estate projects.

Pipeline Development

Key Pipeline Candidates

Greenfields Compound: A luxury residential development in Riyadh offering modern townhouses and apartments.

Offices Zone: A commercial project providing contemporary office spaces in a prime location on King Abdulaziz Road, Riyadh.

Array Suites: A mixed-use development featuring serviced apartments and offices in the Al-Olaya district of Riyadh.

Stages of Development

Planning and Design: Conceptualization and architectural design phases.

Construction: Ongoing construction activities for various projects.

Marketing and Leasing: Initiatives to attract tenants and buyers for completed developments.

Target Conditions

Residential: Catering to high-income individuals seeking luxury living spaces.

Commercial: Providing modern office environments for businesses and entrepreneurs.

Anticipated Milestones

Project Completions: Scheduled handovers of completed units to clients.

Leasing Agreements: Securing tenants for commercial spaces.

Technological Platform and Innovation

Proprietary Technologies

First Projects Company integrates smart building systems and sustainable construction materials to enhance the functionality and environmental performance of their developments.

Significant Scientific Methods

Environmental Impact Assessments: Conducting thorough evaluations to ensure projects meet sustainability standards.

Market Research: Utilizing data analytics to understand market trends and customer preferences.

Leadership Team

Key Executives

Dr. Khaled Nafjan: Chairman

Professional Background: Dr. Nafjan has extensive experience in real estate development and investment, leading the company's strategic direction.

Contributions: Instrumental in expanding the company's portfolio and establishing its presence in international markets.

Eng. Mohammed Dabboussi: Chief Executive Officer (CEO)

Professional Background: With a background in engineering and management, Eng. Dabboussi oversees daily operations and project execution.

Contributions: Played a key role in implementing innovative construction techniques and ensuring project quality.

Eng. Amr Metwally: Executive Director of Emtilak

Professional Background: Specializes in marketing, sales, and real estate consulting.

Contributions: Enhanced the company's market presence and client engagement strategies.

Eng. Fadi Rostom: Executive Director of Ertikaz

Professional Background: Experienced in contracting and construction management.

Contributions: Ensured high standards in construction quality and project delivery.

Mr. Abdullah Al-Nafjan: General Manager of First Projects

Professional Background: Expert in real estate development and project management.

Contributions: Managed project portfolios and coordinated between various departments.

Eng. Issam Dabboussi: General Manager of First Projects International, UK Branch

Professional Background: Focused on international real estate investments and operations.

Contributions: Expanded the company's footprint in the UK market.

Mr. Nawfal Tekaya: Executive Director of Array, Offices Zone, and Amaken Café

Professional Background: Specializes in commercial real estate and hospitality management.

Contributions: Developed and managed key commercial and hospitality projects.

Competitor Profile

Market Insights and Dynamics

The Saudi real estate market is experiencing significant growth, driven by urbanization, population increase, and economic diversification efforts under Vision 2030. There is a rising demand for quality residential, commercial, and mixed-use developments.

Competitor Analysis

Alfanar Projects: A global engineering, construction, and technology solutions company based in Saudi Arabia, operating across the energy, water, and infrastructure sectors.

The First Group: A real estate developer and hospitality company based in Dubai, UAE, with established properties and hospitality services across the UAE.

Strategic Collaborations and Partnerships

First Projects Company has engaged in strategic partnerships to enhance its market position and innovation capacity. Notably, in November 2025, the company signed a sales, marketing, and promotion agreement with Riyad Bank, aiming to strengthen investment opportunities and expand its real estate portfolio.

Operational Insights

First Projects Company differentiates itself through its commitment to quality, sustainability, and community development. By integrating smart technologies and sustainable practices, the company offers developments that meet modern standards and contribute positively to the urban environment.

Strategic Opportunities and Future Directions

The company plans to expand its presence in international markets, particularly in the United Kingdom, through its subsidiary First Projects International Company. This expansion aligns with its vision to become a leading real estate group providing innovative projects that enhance the quality of life and urban environments.