The Cityscape Global Exhibition kicked off in Riyadh, Saudi Arabia, with a grand launch of projects worth over SAR65 billion ($17.3 billion). The National Housing Company leads with SAR 42 billion worth of real estate projects. These projects are located in the suburbs and communities under the company’s administration. Additionally, the Khuzam sports city in Khuzam Suburb and a business center were also introduced.
Read more: Premium properties unveiled at Cityscape Dubai
Strategic collaborations were announced, including a SAR7.7 billion partnership between Roshn and China Harbour as part of Sedra’s future projects.Makkiyoon Urban Developers unveiled the Boulevard Makkah project. The project is valued at SAR6 billion. It covers administrative, commercial, residential, and hotel units. The development spans over 1 million sq m.
In addition, Retal Agency launched a SAR5 billion project to establish an ultra-luxury resort in Al Khobar, managed by the Ritz Carlton.
The King Salman Park Fund invested SAR4 billion in the development of the first plot of land. The plot encompasses 290,000 sq m and includes various components such as 1,500 residential units. It also includes office spaces, hotels, educational facilities, and retail areas.
Also, Masar Destination initiated a SAR4 billion project, constructing 18 residential towers, four hotel buildings, and an office building. These developments mark significant investments and contribute to the growth of the real estate sector in Saudi Arabia.
Commitment to economic growth
With the launch of these projects, Saudi Arabia demonstrates its commitment to economic growth, urban development, and the promotion of sustainable infrastructure. Additionally, the investments made in various sectors contribute to job creation, enhance the quality of life, and position the country as an attractive destination for businesses and residents alike.
Dubai’s second-tallest tower
During the 2022 edition of Cityscape, Azizi Developments made a significant announcement. The prominent real estate company revealed its plans to invest $15 billion in construction projects. This investment will be spread over the next three years. The company also revealed its intention to launch Dubai’s second-tallest tower. The tower is located on Sheikh Zayed Road, a prime location. The estimated cost to build the tower is around AED5 billion ($1.36 billion). Construction is scheduled to begin this year.
Debut in Riyadh
The world’s largest real estate event, Cityscape Global, is making its debut in Riyadh, Saudi Arabia for 2023. Taking place from September 10-13 at the Riyadh Exhibition and Convention Centre, the event is expected to attract over 180,000 global stakeholders from the real estate industry.
Furthermore, Cityscape Global will bring together international and domestic delegates, showcasing major global projects and providing a platform for real estate services. The event will also feature the NEOM Future of Living Summit, highlighting the smart and sustainable region of NEOM in northwest Saudi Arabia. Cityscape Global aims to connect the real estate world and shape the future of the industry.
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