The firm is run by Nidal Jamjoom, a prominent businessman who has also worked as Saudi country manager at Procter & Gamble and has served as CEO of the King Abdullah Economic City (KAEC) project in Thuwal.

Kinan’s shareholders include the Savola Group and Bank Al Bilad, among others.

The firm is currently aiming to develop residential neighbourhoods in the affordable housing bracket and launched its first project, Masharef, in early 2011.

The firm is also heavily involved in retail real estate, and has launched nine malls in Saudi Arabia’s biggest cities.

Over the next six years, Kinan is planning to build up to 11,000 new homes in Jeddah.