Alsulaiman Group (ASG), announced on Monday that it has completed a joint venture deal with Livspace to launch its interior design and home renovation services into GCC markets starting in Saudi Arabia during the first half of next year 2022.
Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders. The JV further plans on strengthening the team by investing in top talent across levels while also aiming to reach 500 design partners in the region by 2022.
The new company will offer interior design solutions delivered by a highly trained team in accordance with the highest international standards.
The strong local experience of Alsulaiman Group combined with Livspace’s global experience will aid the brand in delivering home interior and renovation solutions across the Middle East. ASG is expanding its range of products and services through investing and partnering in companies and startups that bring unique concepts to the region.
Over the past four decades, ASG has managed businesses that include KEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Ehteraf real estate development, in addition to a major investment in Salasa ecommerce fulfillment company.
Saudi Arabia’s Vision 2030 initiatives are sparking growth in home ownership and a wider array of residential formats – villas to high-rise apartment living – which underlines the need for quality home interior design and execution.