RIYADH, Saudi Arabia, July  01, 2026  (GLOBE NEWSWIRE) -- Al Tahaluf Real Estate Company CJSC today announced its rebrand to HOV Global CJSC following an increase in majority ownership by K. Hovnanian M.E. Investments,

Al Tahaluf Rebrands to HOV Global as K. Hovnanian Middle East Expands its Investment in Saudi Arabia

KHME increases stake; HOV Global CJSC rebrand signals Saudi expansion

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  <section data-block="information">
    <h3>Information</h3>
    <p>RIYADH, Saudi Arabia, July  01, 2026  (GLOBE NEWSWIRE) -- Al Tahaluf Real Estate Company CJSC today announced its rebrand to HOV Global CJSC following an increase in majority ownership by K. Hovnanian M.E. Investments,</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>KHME increased its ownership of HOV Global CJSC and rebranded Al Tahaluf Real Estate to HOV Global CJSC, aligning KHME&#039;s capital with Hovnanian Enterprises&#039; U.S. footprint. The move accelerates expansion in Saudi housing, hospitality, and community development, supported by MOUs with NHC, TDF, and EEC as the pipeline grows in KAEC and other cities.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>KHME raises majority stake in HOV Global CJSC. Rebrand completed.</li><li>Rebrand signals Saudi expansion and KHME confidence in housing market.</li><li>HOV Global delivered 2,400 homes; 3,000 under development.</li><li>NHC, TDF, EEC partnerships support major housing and hospitality projects.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Hovnanian Enterprises, Inc. (HOV)</strong>: Parent company; KHME and HOV Global relate to HOV&#039;s strategic international push.</li><li><strong>K. Hovnanian M.E. Investments, LLC (N/A)</strong>: Majority owner of HOV Global CJSC; private entity driving rebrand and expansion.</li><li><strong>HOV Global CJSC (N/A)</strong>: New brand entity; central to Saudi growth strategy.</li><li><strong>Emaar Properties PJSC (EMAAR)</strong>: Partner in KAEC-related development; potential collaboration benefits.</li><li><strong>National Housing Company (NHC) (N/A)</strong>: Partner in housing initiatives; MOUs cited as project support.</li><li><strong>Tourism Development Fund (TDF) (N/A)</strong>: MOU support for tourism, hospitality investments in Saudi Arabia.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The article centers on ownership changes and a branding shift tied to strategic expansion, not immediate earnings, making it a corporate-structure and international-growth catalyst.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>KHME&#039;s majority ownership bump could unlock larger Saudi project financing.</li><li>Rebrand to HOV Global CJSC ties KHME and HOV brands to Saudi developments.</li><li>Pipeline signals: 2,400 homes delivered, 3,000 under development.</li><li>MOUs with NHC/TDF/EEC imply potential sizable contracts and revenue upside.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>July 1, 2026: rebrand announcement.</li><li>KHME increases majority ownership of HOV Global CJSC.</li><li>KHME is a subsidiary of Hovnanian Enterprises, Inc. (NYSE: HOV).</li><li>HOV Global delivered about 2,400 homes since 2013; ~3,000 under development.</li><li>Partnerships with National Housing Company (NHC), Tourism Development Fund (TDF), and Emaar, The Economic City (EEC).</li><li>Existing customers, contracts, partnerships remain unchanged.</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Longer-term upside for HOV from Saudi expansion; near-term price reaction hinges on KHME milestones.</p>
  </section>
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<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>RIYADH, Saudi Arabia, July  01, 2026  (GLOBE NEWSWIRE) -- Al Tahaluf Real Estate Company CJSC today announced its rebrand to HOV Global CJSC following an increase in majority ownership by K. Hovnanian M.E. Investments, LLC (KHME), a subsidiary of Hovnanian Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HOV">HOV</a>), one of the largest homebuilders in the United States.<br></br><br></br>The rebranding marks the next chapter in the company&#39;s growth and reflects KHME&#39;s confidence in Saudi Arabia&#39;s housing market and economic future. Derived from Hovnanian&#39;s NYSE ticker symbol, HOV, the new name establishes a unified identity across the company&#39;s developments throughout the Kingdom. Existing customers, contracts, partnerships, and projects remain unchanged.<br></br><br></br>The ownership increase is accompanied by additional foreign direct investment from KHME to support HOV Global&#39;s continued expansion across Saudi Arabia, including new housing, hospitality, and community development initiatives.<br></br><br></br>&#34;The transition to HOV Global represents an important milestone in the evolution of our company,&#34; said Rob Hofmann, Chairman &amp; Chief Executive Officer of HOV Global. &#34;Over the past 13 years, we have earned the trust of our customers by delivering high-quality developments across Saudi Arabia, building a team of more than 100 associates, and establishing one of the Kingdom&#39;s most experienced real estate development organizations. With KHME increasing its ownership, we are further integrating our deep local experience with the financial strength, technology, design expertise, and homebuilding legacy of Hovnanian. Drawing on nearly seven decades of homebuilding experience and hundreds of thousands of homes delivered across the United States, Hovnanian brings proven expertise in creating exceptional communities, innovative residential products, and customer experiences that will help us continue raising the standard for new housing in Saudi Arabia.&#34;<br></br><br></br>HOV Global has established itself as a trusted partner in Saudi Arabia&#39;s housing sector, working alongside leading public and private organizations to advance homeownership across the Kingdom. Since its founding in 2013, the company has delivered approximately 2,400 homes and has another 3,000 under development across Riyadh, Makkah, Jeddah, and King Abdullah Economic City (KAEC), to be delivered over the next several years.</p>  <p>Its active partnerships with the National Housing Company (NHC), the Tourism Development Fund (TDF), and Emaar, The Economic City (EEC)—master developer of KAEC—support some of the Kingdom&#39;s most significant housing, hospitality, and community development projects.</p>  <p>Through an existing Memorandum of Understanding with TDF, Saudi Arabia&#39;s national steward of tourism investment, HOV Global is working to enable high-quality tourism, hospitality, and branded residential investment across the Kingdom, beginning in KAEC and complementing EEC&#39;s master-development work in the city.</p>  <p>About K. Hovnanian Middle East<br></br><br></br>K. Hovnanian M.E. Investments, LLC is a subsidiary of Hovnanian Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HOV">HOV</a>), one of the largest homebuilding and real estate development companies in the United States. As the majority owner of HOV Global, the company brings international expertise in large-scale residential, hospitality, lifestyle, and master-planned developments, supporting the creation of sustainable, world-class destinations across Saudi Arabia and the broader region.<br></br><br></br><strong>Media Contacts</strong></p>  <p>Rob Hofmann<br></br>Chairman &amp; Chief Executive Officer<br></br>HOV Global CJSC<br></br>Saudi: +966 54 385 3901<br></br>USA: +1 732 904 4876</p>  <p>Tyler Lewis<br></br>Deputy Chief Executive Officer<br></br>HOV Global CJSC<br></br>Saudi: +966 55 287 4982<br></br>USA: +1 713 248 2624</p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTc1NTYzNyM3Njg1NzYxIzIwMDU1MTY="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MjkwNDgxNjAtYzM2Ni00ZDBhLWE1ODAtZWZmZjZlNGJlZWJiLTEwMTcwODktMjAyNi0wNy0wMS1lbg==/tiny/Hovnanian-Enterprises-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/737e3499-28fa-4a02-bbcd-7523adbcdfda"><img src="https://ml.globenewswire.com/media/737e3499-28fa-4a02-bbcd-7523adbcdfda/small/he-logo-rgb.jpg" border="0" width="150" height="44" alt="Primary Logo"></img></a></p>

KHME increased its ownership of HOV Global CJSC and rebranded Al Tahaluf Real Estate to HOV Global CJSC, aligning KHME's capital with Hovnanian Enterprises' U.S. footprint. The move accelerates expansion in Saudi housing, hospitality, and community development, supported by MOUs with NHC, TDF, and EEC as the pipeline grows in KAEC and other cities.

Al Tahaluf Rebrands to HOV Global as K. Hovnanian Middle East Expands its Investment in Saudi Arabia

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Market-Moving

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