Makkiyoon Urban Developers announced that the Boulevard Makkah project is worth SR6bn ($1.6bn). Credit: ekrem osmanoglu on Unsplash.

More than SR65bn ($17.33bn) worth of development projects have been announced during the Cityscape Global Exhibition, a property development networking exhibition and conference in Saudi Arabia.

The Saudi Press Agency (SPA) said the National Housing Company unveiled new real estate projects worth SR42bn ($11.2bn) in the suburbs and towns under their jurisdiction.

Related Company Profiles

View all

Furthermore, a commercial centre and the Khuzam sports city were announced in Khuzam Suburb.

Saudi Arabia-based real estate developer Roshn announced its partnership worth SR7.7bn ($2bn) with China Harbour as part of SEDRA’s future projects.

Makkiyoon Urban Developers announced the Boulevard Makkah project, which is worth SAR6bn ($1.6bn) and consists of administrative, commercial, residential, and hotel space spanning one million square metres.

The SPA report stated that Retal Agency revealed the launch of an SR5bn ($1.3bn) project to build an ultra-luxury resort in Al-Khobar under the brand of the Ritz Carlton.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Additionally, the King Salman Park Fund committed an SR4bn ($1bn) investment to build the project’s initial block of land.

The project will include the development of more than 290,000m² of commercial, hotel, educational, and retail space, along with 1,500 residential apartments in the Salmani architectural style.

Masar Destination has also begun work on an SR4bn ($1bn) project to build 18 residential towers, four hotel buildings and an office complex.

Saudi Arabia’s Municipal and Rural Affairs and Housing Minister Majid Al-Hogail was quoted by SPA as saying: “We will together work on developing the housing sector in light of a legislative environment that stimulates investment and various financing options that have contributed to the highest ever percentage of real estate loans in the non-oil gross domestic product.”