Saudi Arabia

Saudi: Cityscape Global 2023 Starts With $17.3 Billion of Real Estate Deals

The Cityscape Global Exhibition in Saudi Arabia launched real estate projects worth more than SR65bn ($17.3bn).

One of the major projects unveiled was the National Housing Company’s initiative to develop new real estate valued at SR42bn in the suburbs and communities under their administration.

Additionally, a business centre and the Khuzam sports city in Khuzam Suburb were also launched.

ROSHN, in collaboration with China Harbour as part of SEDRA’s future projects, announced a strategic collaboration worth SR7.7bn ($2bn).

Makkiyoon Urban Developers unveiled the Boulevard Makkah project, valued at SR6bn ($1.6bn), which includes administrative, commercial, and residential units, and hotels spanning a total area of one million square meters.

Retal Agency also launched an SR5bn ($1.3bn) project to establish an ultra-luxury resort in Al-Khobar under the management of the Ritz Carlton.

Furthermore, the King Salman Park Fund announced an SR4bn ($1.1bn) investment to develop the first plot of land within the project.

This investment will involve the construction of 1,500 residential units with the Salmani architectural style, as well as office, hotel, educational, and retail areas in an area of over 290,000 sqm.

Masar Destination also launched an SR4bn ($1.1bn) project to construct 18 residential towers, four hotel buildings, and an office building.

Cityscape Global is a four-day event featuring the participation of 350 exhibitors.

The exhibition showcases Saudi Vision 2030 mega projects, important real estate companies, start-ups, and various distinguished entities.


Arabian Business

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