Arada is entering Saudi Arabia for the first time with a residential project worth AED14 billion in Riyadh. The UAE developer has formed a joint venture called Arada KSA with XTOPIA to build a master-planned community in the Al Rimal District of north-eastern Riyadh. Construction and sales are scheduled to begin in 2027.
The project will span 3.2 million square metres. It will feature 3,500 villas and townhouses across the development in the Al Rimal District. The partnership marks Arada's first foray into the Saudi Arabian property market.
Arada has set an ambitious target for its Saudi operations. The developer plans to deliver 100,000 homes across Saudi Arabia within three to five years. That timeline positions Arada KSA as a major player in the kingdom's residential sector.
The joint venture has secured access to a substantial land bank. Arada KSA holds 10 million square metres of land valued at SAR50 billion across three cities. The land portfolio covers Riyadh, Jeddah and Makkah, giving the partnership a foothold in key Saudi markets.
The Al Rimal District project represents the first phase of Arada's expansion strategy in Saudi Arabia. The north-eastern Riyadh location will house the master-planned community valued at AED14 billion. Sales and construction activities are set to commence in 2027, with the 3,500 residential units forming the initial offering from Arada KSA.
The partnership between Arada and XTOPIA brings together expertise from both sides. Arada contributes its track record as a UAE developer, while XTOPIA provides local market knowledge. Together, Arada KSA aims to capitalise on demand for residential property across Saudi Arabia's major cities, starting with the Riyadh development spanning 3.2 million square metres.
Source
Arada launches Arada KSA, entering Saudi Arabia with AED14bn Riyadh residential project (The National)
