Thabat
Thabat Real Estate Development is a Saudi luxury villa developer launched in 2023 as part of the Al Muhaidib Group, building two sustainable smart-city residential projects (Aseeb in Al Khobar and Al-Atra in Riyadh) targeting high-income Saudi families and real estate investors.
- Company typePrivate
- Founded2023
- HeadquartersDammam, Saudi Arabia
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Thabat does
Thabat Real Estate Development (ثبات للتطوير العقاري) is a Saudi Arabian residential real estate developer founded in 2023 and wholly owned by Abdul Qadir Al Muhaidib & Sons Group. The company develops luxury villa communities in two Saudi cities: Aseeb, comprising 53 villas in Tharwa Town smart city near Al Khobar in the Eastern Province, and Al-Atra, comprising 24 villas in the Al Narjis district of north Riyadh. Both projects emphasize sustainable construction methods, including inner courtyard-based passive climate control, locally sourced eco-friendly materials (stone and marble), rainwater harvesting, greywater recycling, and integration with smart-city utility infrastructure (fiber optics, paved roads, drainage, lighting, water, and electricity networks).
The company's go-to-market is enterprise-style direct field sales: it operates show villas and project sales centers, uses bilingual Arabic/English project landing pages (aseeb.thabatred.com, alatra.thabatred.com) with interest-capture forms, and exhibits at Cityscape Global in Riyadh. Revenue is generated through one-time villa sales, including ready units in Aseeb Phase 1 and off-plan reservations in Aseeb Phase 2 and Al-Atra; unit pricing is not publicly disclosed and is provided upon inquiry. The company leverages its affiliated construction arm Thabat Construction (ثبات للإنشاءات), which has over 45 years of building and infrastructure execution experience, as the captive execution partner for its projects. Customers are high-income Saudi families and real estate investors, with financing partnerships established with Saudi financial institutions at Cityscape Global 2023 to support mortgage-assisted purchases.
Thabat is led by CEO Ahmed AlOsaimi (أحمد العصيمي) and Chairman Zeyad Al Saleh (زياد الصالح), with board representation from the Muhaidib family via parent group ownership. The Aseeb project received two 2023 Luxury Lifestyle Awards (USA): Best Luxury Residential Community and Best Luxury Sustainable Residential Community. The company's stated vision explicitly aligns with Saudi Vision 2030 urban development objectives.
Thabat firmographics
Firmographics- Name
- Thabat
- Legal name
- Thabat Real Estate Development (ثبات للتطوير العقاري)
- Website
- https://thabatred.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Thabat Real Estate Development is a Saudi luxury villa developer launched in 2023 as part of the Al Muhaidib Group, building two sustainable smart-city residential projects (Aseeb in Al Khobar and Al-Atra in Riyadh) targeting high-income Saudi families and real estate investors.
- Ownership category
- akta.pro rank
Thabat industry classification
Industry- Product category
- Luxury Residential Real Estate Development
- NAICS
- Land Subdivision (2372), Land Subdivision (23721), Real Estate and Rental and Leasing (53)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Villas & Luxury Estates (THAMAAAC)
- akta.pro secondary industries
- Luxury Vacation Homes & Residences (THAMAEAB), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Thabat is headquartered
LocationHeadquarters
- HQ city
- Dammam
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices2 records
Markets served
Thabat business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Residential Property Sales: Thabat Real Estate Development generates revenue primarily through the direct sale of residential units (villas) to end-buyers. The company develops and sells luxury villas across its projects (Aseeb in Khobar, Al-Atra in Riyadh) on a one-time purchase basis. Sales are conducted via direct field sales at show villas and at exhibitions such as Cityscape Global.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Luxury residential villas — pricing available upon inquiry |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
Thabat product offering
Product offeringCore offering
Thabat Real Estate Development develops and sells luxury residential villa communities in Saudi Arabia. Its current portfolio comprises the Aseeb project (53 villas in Tharwa Town smart city, Al Khobar, Eastern Province) and the Al-Atra project (24 villas in Al Narjis district, Riyadh). The company offers both ready and off-plan units, marketed toward high-income Saudi families and real estate investors, with sustainability features, smart infrastructure integration, and on-site amenities such as markets, mosques, parks, schools, and health centers.
Product overview
Thabat Real Estate Development operates as a real estate developer offering residential villa projects. The company manages two main residential development projects: Aseeb in Tharwa Town (Khobar/Eastern Province) featuring 53 luxury villas, and Al-Atra in Al Narjis (Riyadh) with 24 villa units. Both projects focus on high-quality residential communities with sustainable building practices. The company leverages its affiliated construction arm, Thabat Construction, with over 45 years of experience for project execution.
Differentiator
Problem solved
Functional benefit
Brands
- Aseeb (عسيب): Luxury residential project in Tharwa Town, Khobar, Eastern Province, Saudi Arabia. Comprises 53 luxury villas on 3 land plots with sustainable building specifications.
- Alatra (العطرا)
Products and services
- Aseeb (عسيب) Luxury residential villa community in Tharwa Town smart city, Al Khobar, comprising 53 villas (built areas 350–577 sqm) across 3 land plots with sustainable building materials, courtyard climate control design, smart infrastructure integration, and integrated amenities. Marketed to Saudi families and real estate investors.
- Al-Atra (العطرا) Luxury residential villa project in Al Narjis district, north Riyadh, comprising 24 villas with 4 distinct floor plan models, private pools, private gardens, and modern designs blending luxury and sustainability. Villa land sizes range from 308–445 sqm with total building areas of 362–446 sqm.
Quantifiable outcome
- Thabat won two international awards from Luxury Lifestyle Awards for the Aseeb project: 'Best Luxury Residential Community' and 'Best Luxury Sustainable Residential Community'.
- +1 more outcomes
Companies that use Thabat
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Thabat technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Thabat partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Thabat Construction (ذات发烧有限公司)coreThabat Real Estate Development works exclusively with its affiliated company Thabat Construction (thabat.sa), which has over 45 years of expertise in construction and infrastructure projects across Saudi Arabia. Thabat Construction serves as the executive arm for executing all of Thabat Real Estate's development projects, ensuring adherence to the highest quality and safety standards.
Scale indicators6 records
Recent moves9 records
Expansion highlights5 records
Thabat competitors and assessment
Company assessmentDirect peers
- ROSHN: Saudi Arabia's largest residential developer, PIF-backed, developing master-planned communities with thousands of homes across major Saudi cities. Directly comparable as a Saudi luxury/mid-market villa developer serving high-income Saudi families aligned with Vision 2030.
- Jabal Omar Development: Saudi-listed developer of large-scale mixed-use and residential communities near Makkah, focused on integrated luxury living. Comparable as a Saudi developer building large integrated residential masterplans with sustainability and premium positioning.
- Retal Urban Development: Saudi-listed developer of residential communities primarily in Riyadh and Eastern Province, including villa and townhouse projects. Comparable as a Saudi-focused residential developer competing for similar HNW Saudi family buyers.
- Dar Al Arkan Real Estate Development: Publicly listed Saudi developer of luxury villas, apartments, and master-planned communities including the Shams Ar Riyadh and other Vision 2030-aligned projects. Comparable as a Saudi luxury residential developer targeting HNW Saudi buyers with similar geographic focus (Riyadh).
- Al Akaria Holding (Saudi Real Estate Company): Saudi-listed developer of residential and commercial real estate including master-planned communities in Riyadh and other major cities. Comparable as a Saudi residential developer with similar luxury/community positioning.
Broad incumbents
- Emaar Properties: UAE-based global mega-developer behind Downtown Dubai and active in Saudi Arabia via KAEC. Comparable as a luxury residential developer with international sustainability credentials and Vision 2030-aligned Saudi projects.
- SEDCO Holding Real Estate Division: Saudi conglomerate with diversified real estate arm including luxury residential projects in Saudi Arabia. Comparable as a diversified Saudi group with a real estate division building premium residential communities, similar structure to Thabat under Al Muhaidib Group.
Regional players
- Makkah Construction & Development Company: Saudi-listed developer focused on residential and hospitality projects in Makkah region. Comparable as a Saudi developer integrating sustainability and community design in residential masterplans.
- Aldar Properties: UAE-listed developer of luxury integrated communities; expanding into Saudi Arabia through joint ventures. Comparable as a regional Gulf luxury developer targeting premium Saudi and Gulf buyers with sustainability-led masterplans.
Emerging players
- Knowledge Economic City (KEC) / Emaar KEC: Saudi-listed developer of the KAEC master-planned smart city near Jeddah with residential, commercial, and educational components. Comparable as a developer building a Vision 2030-era Saudi smart city community, similar positioning to Thabat's Tharwa Town project.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Thabat social profiles
Digital presenceThabat financial estimates
Financial estimateRevenue estimate
Valuation estimate
Thabat leadership team
Management profileNumber of profiles
Profiles6 records
Thabat subsidiaries and ownership
Company hierarchySubsidiaries1 record
Thabat funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Thabat M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Thabat
What does Thabat do?
Thabat Real Estate Development develops and sells luxury residential villa communities in Saudi Arabia. Its current portfolio comprises the Aseeb project (53 villas in Tharwa Town smart city, Al Khobar, Eastern Province) and the Al-Atra project (24 villas in Al Narjis district, Riyadh). The company offers both ready and off-plan units, marketed toward high-income Saudi families and real estate investors, with sustainability features, smart infrastructure integration, and on-site amenities such as markets, mosques, parks, schools, and health centers.
Is Thabat a public or private company?
Thabat is a private company. It is classified as corporate owned and is currently operating.
When was Thabat founded?
Thabat was founded in 2023. It employs 11 to 50 people.
Where is Thabat based?
Thabat is headquartered in Dammam, Saudi Arabia, in the Middle East region.
How does Thabat make money?
One revenue line is on record: residential Property Sales.
Who are Thabat's main competitors?
Direct peers on record are ROSHN, Jabal Omar Development, Retal Urban Development, Dar Al Arkan Real Estate Development and Al Akaria Holding (Saudi Real Estate Company). Broad incumbents are Emaar Properties and SEDCO Holding Real Estate Division. Regional players are Makkah Construction & Development Company and Aldar Properties. Knowledge Economic City (KEC) / Emaar KEC is listed as an emerging player.
Does Thabat have an API?
No public API is recorded for Thabat.
What industry is Thabat in?
Thabat's product category is Luxury Residential Real Estate Development. Its primary akta.pro industry code is THAMAAAC, Villas & Luxury Estates, with a secondary code of THAMAEAB, Luxury Vacation Homes & Residences. Its NAICS code is 2372 and its SIC code is 6552.