Saudi-based Asas Makeen Real Estate Development has signed a framework agreement with two key entities - Middle East Financial Investment and Binaa Altharwat Company - to set up a real estate investment fund for the development of prime land owned by the company in Riyadh.
Saudi Arabia's Red Sea International Company said it has completed regulatory approvals and taken possession of a 63,088-sq-m prime plot of land in Madinah, thus marking the start of its contractual obligations under a 50-year lease agreement with the municipality.
Saudi Arabia's Knowledge Economic City has announced the sale of 17,624.85 sq m plots of land within its premises in Madinah to two key entities - Al Bawaba International Investment and Olu Real Estate Company. The duo will be using these plots for the development of a mixed-use project.
Saudi-based Al Ramz Real Estate Company has announced that it has acquired a prime 8,600 sq m plot of land in Al Malqa district of the capital Riyadh for the development of a residential project comprising 135 apartments along with premium amenities.
The Kingdom of Saudi Arabia has reached a major milestone in restoring degraded land, announcing the rehabilitation of one million hectares under the Saudi Green Initiative, demonstrating that large-scale land restoration is achievable even in some of the world’s most water-scarce environments.
Makkah Construction and Development Company has bought 6,986 sq m of land at an auction for SAR980 million ($261 million). The plot, which is in close proximity to the Grand Mosque, is ideal for setting up a mixed-use project featuring a hotel and a mall, it said.
ROSHN Group has signed four land sale agreements within its large-scale integrated community - ALAROUS - in North Jeddah. Valued at over SAR448 million ($119 million), the deals span over 87,000 sqm set for new residential and mixed-use projects.
Object 1, a key real estate developer, has closed a AED4.5 billion ($1.22 billion) multi-plot land deal in Abu Dhabi, marking a significant step forward in its expansion into the capital. The developer has acquired four waterfront plots on Al Reem Island with a development area of over 2 million sq ft.
