Saudi developer Retal has announced plans to build more than 750 new residential units within Al Fursan District I in Riyadh at an investment of SR864 million ($230 million). It has already inked a deal with National Housing Company for land allocation.
Saudi Arabia has launched the second phase of projects at Al Wajiha - a leading residential suburbs located within Dammam city - and Qumra community in Qatif Governorate featuring a total of more than 7,700 housing units.
Saudi mall developer Arabian Centres has signed a deal with National Housing Company for the development of a major retail destination in Riyadh featuring 150 top brands, restaurants, cinemas and leisure facilities in addition to 3,500 parking spaces.
The Ministry of Investment (MISA) is leading a major delegation of Saudi entities at MIPIM in Cannes this week under the umbrella of “Invest Saudi”, looking to connect international investors with investment opportunities in the Kingdom of Saudi Arabia.
Saudi Arabia plans to build about 300,000 houses in the next four years at an estimated cost of SR200 billion ($53.3 billion) as part of its plan to increase citizens’ home ownership to nearly 70 per cent, according to a senior official.