Tamlik Company Ltd. was established in 1993 by an elite of 40 businessmen in Jeddah. Led by the founding companies; Xenel Industries Ltd, Mohamed Binladin Co. and Dallah Real-Estate & Tourism Development. The company's initial capital was SR 90 million soon raised to SR 125 million in 1994. The company's main objective is to build residential units for high and middle income classes sold at prompt payment or installment systems for long terms reaching 20 years. After 5 years only from its foundation Tamlik has become a renowned source for real estate development and installment sales.