SAR 65 bln real estate projects launched on Day 1 of Cityscape Riyadh

The Cityscape Global Exhibition, which kicked off today, Sept. 10, in Riyadh, witnessed the launch of real estate projects worth around SAR 65 billion on the opening day.

ROSHN Group will have four strategic partnerships of over SAR 9 billion in the fields of construction and infrastructure.

Under the first, ROSHN will develop 6,700 residential units, mosques, community centers, retail spaces and public utilities for future projects at SEDRA and Warefa Community in Riyadh at a total value of SAR 7.7 billion.

The second partnership was announced at a total value of SAR 690 million for Al-Arous Community in the north of Jeddah.

ROSHN formed the third partnership at SAR 840 million to undertake the basic and secondary infrastructure works of ROSHN new communities, to be announced soon in the Western Region.

The fourth partnership was announced with Abyat to design and supply 12,000 kitchens.

Retal Urban Development Co. launched new projects at more than SAR 5 billion, including The Ritz-Carlton in Khobar.

Another project was announced for 19 residential towers, four hotel buildings and an office building at a total value of SAR 4 billion.

The King Salman Park Foundation (KSPF) announced the launch of a SAR 4 billion real estate development fund for King Salman Park.

National Housing Co. (NHC) also unveiled three luxury projects in Al Forsan and Khuzam suburbs, which provide 86,000 housing units with a value exceeding SAR 42 billion.

An agreement was signed for the establishment of a new residential community in Al Forsan suburb, Riyadh, in partnership with Egypt’s real estate developer Talaat Mustafa Group.

This marks one of the largest residential projects in the suburb, with a total area of 10 million square meters and a capacity of 27,750 housing units.

NHC also unveiled the Khuzam Business Center, a 500,000-square-meter integrated business project that aims to create an integrated environment with office towers and various commercial complexes, administrative offices, a world-class residential complex, and luxury hotels.

The company also unveiled the Khuzam Sports City, a massive sports project spanning 135,000 square meters in Khuzam suburb. The Khuzam Sports City features outdoor and indoor football fields, closed fields for various sports, outdoor tennis courts, sports training academies, a men’s sports club, a women's sports club, an electronic games center, an entertainment zone, a spa, and a sports walkway, in addition to a commercial plaza containing restaurants and cafes.

Source : Argaam