Four Directions unveiled SAR 750M new projects at Cityscape: CEO

Four Directions Real Estate Development Co.’s CEO Mohammed Alzarah says the Kingdom’s real estate sector is poised for strong growth over the next 10 years

Four Directions Real Estate Development Co.’s CEO Mohammed Alzarah said the company showcased new projects worth about SAR 750 million at Cityscape 2025.

In an interview with Argaam on the sidelines of Cityscape, he added that the Kingdom’s real estate sector is poised for strong growth over the next 10 years, supported by major upcoming events such as Vision 2030, the 2027 AFC Asian Cup, Expo 2030, and the 2034 FIFA World Cup.

These events will be a key driver to boost demand, particularly for high-quality products that meet the needs of residents and professionals expected to move to Riyadh, he noted.

Alzarah explained that the company’s strategy focuses less on total built-up area and more on the quality of services and facilities within its projects, noting that green areas and open spaces in some of their developments range from 40% to 75%.

The aim is to create suitable residential and work environments for residents, professionals, and expatriates coming to live and work in the Kingdom, he said.

Commenting on recent regulatory decisions, he said that the off-plan sales regulations provide significant support for developers, helping reduce financing costs, offering buyers flexible payment plans, and accelerating project execution. He noted that the company intends to launch three to four projects under the off-plan sales in the coming period.

Alzarah added that the decision to halt annual rent increases for five years is consumer-friendly, particularly amid expectations of rising housing demand in Riyadh ahead of major events.

He pointed out that the decision does not harm developers, particularly since rent increases recorded in 2025 were the highest on record, affirming that rent stabilization ensures market stability and sets a clear framework for all parties.

Alzarah stated that the recent update to the White Land Tax Law benefits developers, as it helps increase land supply, facilitates cooperation with landowners after supply had previously been limited, and improves the balance between supply and demand, encouraging the launch of new high-quality projects.

He further emphasized that government regulations are flexible, temporary, and tied to market dynamics, as they will be updated once reasonable balance levels are reached.

Regarding current projects, he explained that the Yamama City Center residential project is one of the company’s flagship developments, with 95% of its units sold. Construction has reached the 10th floor out of 23, with work exceeding 30%.

The CEO also highlighted the Yamama Business Park project in Al Nakheel district, an office development built on a land area of 23,000 square meters (sqm), with the building footprint not exceeding 25% and the rest dedicated to open space. He noted that concrete structural work has been completed, and finishing work will begin soon, with delivery expected in March 2026.

Meanwhile, Alzarah said the Business Square project in Al Nakheel has been built on a 27,000 sqm plot, with a built-up area of more than 55,000 sqm. Excavation work for the project has been completed, while the building permit is expected within days, allowing immediate commencement of construction. The project includes the Capital Club, covering approximately 2,000 sqm.

Alzarah added that Four Directions is also developing a residential tower behind the Narcissus Hotel in Tahlia, with excavation having begun pending permit procedures. Construction has started on the Dar Al Yamama Project in Al Olaya, a hotel-apartment development, comprising 192 units, following permit issuance on a 6,300-sqm site near Al Oruba Street.

He also referred to a new residential project in the Al Rafea district, being developed through an investment fund valued at SAR 400 million, on a 60,000-sqm plot and comprising more than 170 villas. The project is planned for off-plan sale within three months, with a total of 23,000 sqm of amenities.

He added that the company is developing a mixed residential-commercial project on King Salman Road near Avenues Mall, on a 3,000-sqm plot with more than 170 expected residential units, with construction planned to begin within six months.

Additionally, Four Directions is working on a new mixed-use project in Al Nakheel district spanning 38,000 sqm, including commercial, office, residential, and hospitality components, which will be announced soon.

Besides, the CEO said that the large number of real estate developers in Riyadh is healthy, adding that each developer helps fill a specific market gap and that value-added projects maintain their quality and rental returns even in challenging market conditions.

He explained that demand for the company’s projects is strong, noting that non-Saudi buyers account for about 22%, mainly Europeans and other nationalities. He highlighted that demand is directly linked to product quality, location, and payment plans.

Alzarah concluded that Vision 2030 has provided developers with a clear roadmap for the next 10 years, noting that the real estate sector faces both major opportunities and greater responsibilities in the coming period.

He stated that working in alignment with the Vision’s objectives is no longer a choice but a necessity.