In a remarkable move reflecting its global expansion strategy, Arada, one of the fastest-growing real estate development companies in the world, has announced the launch of Arada Saudi Arabia. This new entity aims to develop large-scale communities across various regions of the Kingdom, in strategic partnership with Ekstobia, a firm specialised in developing multifaceted communities and destinations.
Arada Saudi Arabia has appointed Mohammed Al-Dabbaan, Chairman of Ekstobia, as its Chairman, signalling the significance of local partnerships in laying the foundation for the company’s operations and expansion plans in Saudi Arabia. This collaboration grants Arada Saudi Arabia access to a portfolio of land spanning 10 million square metres, valued at a total of AED 49 billion. The land includes strategically important locations in Riyadh, Jeddah, and Mecca, providing a robust foundation for developing new projects and communities within some of the Kingdom’s most prominent real estate markets.
The establishment of Arada Saudi Arabia aligns with Arada’s accelerated global expansion, with its portfolio of projects under development currently worth approximately AED 185 billion across five markets. This impressive portfolio includes over 70,000 residential units in Saudi Arabia, the United Kingdom, Syria, Australia, and the United Arab Emirates, with around 17,000 housing units completed to date.
Speaking on the occasion, Mohammed Al-Dabbaan, Chairman of Arada Saudi Arabia, stated, “The launch of Arada Saudi Arabia marks the beginning of a long-term presence in the Kingdom, supported by a range of strategic locations that empower us to develop comprehensive communities on a large scale in several cities across the country. We believe that the Saudi housing market holds strong growth opportunities in the coming years, and we take pride in contributing to the goals outlined in Saudi Vision 2030 concerning the housing sector.”
He continued, “This partnership merges Arada’s global experience in developing integrated communities with Ekstobia’s deep understanding of the local market, establishing a company capable of delivering quality projects and building a sustainable presence in the Kingdom over the long term.”
Arada Saudi Arabia has revealed its inaugural project, a comprehensive residential plan valued at AED 14 billion, located in the Al-Rimal neighbourhood northeast of Riyadh. This project is among the largest private real estate development initiatives announced in the capital in recent years.
Covering an area of approximately 2.5 million square metres, the project will feature around 3,500 villas and townhouses, set amidst 100,000 trees. Additional amenities will include a school, commercial facilities, a community centre, and sports facilities, all designed to meet the daily needs of residents within an integrated community.
Arada Saudi Arabia will work closely with relevant government entities to develop the master plan for the project in line with housing goals and national development priorities in the Kingdom. The Al-Rimal project will be financed through an investment structure regulated by the Capital Market Authority, managed by a licensed financial company, with sales and construction expected to commence in 2027.
This project aligns with the objectives of the Quality of Life Programme, part of Saudi Vision 2030, which aims to enhance the status of Saudi cities among the world’s best places to live. In Riyadh, the Royal Commission for Riyadh City is assisting in achieving these objectives through the “Green Riyadh” programme, which aims to plant 7.5 million trees across the capital, increasing the green space per capita from 1.7 square metres to 28 square metres by 2030.