Hovnanian Subsidiary Raises Stake, Rebrands Al Tahaluf as HOV Global for Saudi Growth
HOV•K. Hovnanian M.E. Investments boosted its majority stake in Al Tahaluf and rebranded it as HOV Global CJSC to unify branding across Saudi developments. HOV Global has delivered 2,400 homes since 2013 and has 3,000 more under development in Riyadh, Makkah, Jeddah and KAEC with increased foreign investment.
1. Ownership Increase and Rebranding
K. Hovnanian M.E. Investments increased its majority ownership of Al Tahaluf Real Estate Company CJSC and rebranded the business as HOV Global CJSC. The new name, derived from the parent company’s ticker, establishes a unified identity across all existing contracts, partnerships and developments in the Kingdom.
2. Planned Saudi Development Expansion
The ownership increase is paired with additional foreign direct investment to fund HOV Global’s next phase of growth, focusing on new housing communities, hospitality ventures and broader community development initiatives throughout Saudi Arabia.
3. Home Delivery and Strategic Partnerships
Since 2013, HOV Global has delivered approximately 2,400 homes and has 3,000 under construction in Riyadh, Makkah, Jeddah and King Abdullah Economic City. Active collaborations with the National Housing Company, Tourism Development Fund and Emaar The Economic City support several major housing, tourism and master‐planned projects.
