Olayan Real Estate Company Ltd. (ORECO)
Olayan Real Estate Company Ltd. (ORECO) was formed in 1976 as a subsidiary of Olayan Financing Company to plan and coordinate the Groups requirements and to acquire land and properties.
ORECO's activities were initially focused on the acquisition of land parcels to cater to the Group's current and long-term needs. It has evolved to undertake property development projects on its own and for third parties.
For example, in the mid-1990s ORECO developed its first office and shopping complex, Riyadh's Dareen Commercial Center. The complex houses the headquarters of two Olayan companies and a mix of other office and retail tenants. ORECO has also developed supermarkets for Safeway Tamimi. The company recently developed its second major office and shopping complex, this one in Dammam on the Arabian Gulf coast.