UAE Developer Enters Saudi Arabia Market With $13.3 Billion Land Bank

UAE master developer Arada has expanded its business operations to Saudi Arabia.

It formally announced the establishment of Arada KSA on Tuesday. 

Arada KSA has huge ambitions for Saudi Arabia and has its sights set on delivering a number of large-scale communities across the country. 

The company’s first project in Saudi Arabia will be a $3.8 billion project located in Northeast Riyadh.

Arada KSA also has access to a 10 million square metre land bank valued at $13.3 billion (AED 49 billion) spanning key strategic locations.

Mohammed AlDhabaan, Chairman of XTOPIA, has been appointed Chairman of Arada KSA, which reflects the significance of the local partnership at the heart of the new company’s foundation. 

The entry into Saudi Arabia is the latest step in Arada’s rapid global expansion. 

The company now has a project pipeline valued at $50 billion across five markets, with a portfolio of more than 70,000 homes spanning the United Kingdom, Syria, Australia, the UAE and — with this announcement — the Kingdom of Saudi Arabia. 

In total, Arada has completed 17,000 homes.

Mohammed AlDhabaan, Chairman of Arada KSA, said that the establishmentof Arada KSA marks a significant step forward for the development of world-class communities in the Kingdom.

“Our land bank, which features key strategic locations across the Kingdom, positions Arada KSA as a platform with genuine national scale and reach. 

“Saudi Arabia’s residential market has never offered more compelling long-term fundamentals, and the combination of Arada’s global track record in community building with XTOPIA’s deep local expertise creates a platform with real long-term potential for the Kingdom,” said AlDhabaan. 

Riyadh project

The first project in its portfolio is unsurprisingly an eye-catching one.

A $3.8 billion residential master plan in the Al Rimal District of north-eastern Riyadh, which is one of the largest private real estate projects to be announced in the Saudi capital in recent years.

The development will be delivered on a plot of approximately 2.5 million square metres and will comprise an estimated 3,500 villas and townhouses surrounded by 100,000 trees, with world-class amenities including a school, retail, a community centre and sporting facilities.

The Al Rimal project will be funded through a Capital Market Authority-regulated investment structure managed by a licensed financial company. On-site construction and sales of the project are both scheduled to commence in 2027.