Arada Enters Saudi Market with $3.8 Billion Riyadh Project

Key Facts

1Arada has announced its entry into the Saudi Arabian market with a $3.8 billion residential and commercial project in Riyadh.

Arada has announced its entry into the Saudi Arabian market with a $3.8 billion residential and commercial project in Riyadh. The National reported that the UAE-based developer intends to build 100,000 homes in the Kingdom over the next three to five years as part of its official expansion.

The move is designed to capitalize on growing demand in the Saudi real estate sector under Vision 2030, which aims to increase home ownership rates among citizens. Arada is jointly owned by Sharjah-based Basma Group and Saudi businessman Prince Khaled bin Alwaleed’s KBW Investments.