On October 19, 2026, Dragon Holdings, a company controlled by CHINAMEX, officially signed a Memorandum of Understanding (MOU) for the Dammam Dragon City project with Saudi Arabia’s Tamimi Group and Al Rashed Group. The signing ceremony was attended by Mr. Osama, Vice Chairman of Dragon Holdings; Mr. Ding Bingyan, Independent Director of CHINAMEX, Director of China-Arab International Investment Co., Ltd., and General Manager of Dragon Holdings; Mr. Tariq Al-Tamimi, Chairman of Tamimi Group; and Mr. Abdul Muhsen Alrashed, Chairman of Al Rashed Group.

Dammam Dragon City is a flagship project in the second phase of CHINAMEX’s development in Saudi Arabia, following Dragon Mart Dubai, Dragon City Bahrain , and Dragon World Riyadh. It aims to fill a gap in the regional market for large-scale Chinese goods trading platforms, providing a strategic platform for Chinese products and industrial supply chains to establish a strong presence in Saudi Arabia and expand across the Middle East.

Dammam Dragon City is located within Life Park (King Fahd Park), in the prime Al Basatin district of Dammam, occupying a rare and strategic site in the city’s central green belt. Within a 20-minute travel radius are Dammam University, King Fahd University of Petroleum and Minerals, the Saudi Aramco industrial zone, and the Dammam waterfront. Strategically positioned within the Dammam–Khobar–Dhahran triangle, the project is ideally situated to serve the region’s key consumer markets and industrial communities.

The Dammam Dragon City project is being developed by Life Park Development Company, operated by Dragon Holdings, and funded by GFH Financial Group.