Arada kicks off Riyadh operations with SAR 50 billion land portfolio
Arada, one of the world's fastest-growing master developers, has announced the establishment of Arada KSA, a new real estate development company that will be responsible for delivering large-scale communities across the Kingdom of Saudi Arabia. The new entity has been founded in strategic partnership with XTOPIA, a community and lifestyle company developing integrated mixed-use destinations…
Arada, a leading global master developer, has launched its Saudi Arabian operations with a SAR50 billion portfolio of land across strategic locations including Riyadh, Jeddah and Makkah. This move marks the latest step in Arada's rapid expansion, as the company now has a project pipeline valued at SAR189 billion across five markets, with a portfolio of over 70,000 homes.
The new entity, Arada KSA, is a partnership with XTOPIA, a community and lifestyle company that specializes in developing mixed-use destinations. Arada KSA's Chairman, Mohammed AlDhabaan, who also leads XTOPIA, emphasized the significance of this local partnership. The company's first project, a SAR14 billion residential master plan in Riyadh's Al Rimal District, will comprise around 3,500 villas and townhouses, surrounded by 100,000 trees and world-class amenities.
This development aligns with Saudi Arabia's Vision 2030 aspirations for livable cities, as outlined by the Royal Commission for Riyadh City's Green Riyadh program.
Written by urgent.news from Saudi Gazette Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
