Al Akaria Signs a Lease Agreement for Al Reef Residential Compound in the Diplomatic Quarter, Riyadh, with Amsa Hospitality

The Saudi Real Estate Company ("Al Akaria" or the "Company") announced the signing of a lease agreement for "Al Reef Residential Compound" in Riyadh with "AmsaHospitality", as part of its direction to develop integrated residential communities in strategic locations that enhance quality of life and align with the goals of Kingdom’s Vision 2030.

The total value of the project is estimated at approximately SAR 1,199,299,500 over 20 years, reflecting the long-term nature of the investment and its focus on value sustainability and operational quality.

Located in the heart of Riyadh’s "Diplomatic Quarter", the project spans approximately 40,000 square meters and includes 240 modern residential units, comprising 176 apartments and  64 villas and townhouses. The operation is expectedto be in Q4 2026.

In this context, "Khalid AlSehaibany", Al Akaria’s "Acting CEO", stated that the project embodies "Al Akaria’s" approach to developing high-quality residential communities that focus on an integrated living experience built on quality planning and comprehensive facilities that elevate quality of life in Riyadh.

For his part, "Muin Serhan", the "CEO" of "Amsa Hospitality", said: " This outstanding residential project under the global Radisson brand reflects Amsa Hospitality's mission to deliver well-planned, integrated housing solutions that enhance Riyadh’s resident experience. We are pleased to partner with Al AKARIA as we expand our footprint in the Saudi capital through long-term strategic partnerships.”

“The Compound” is a residential development located in one of Riyadh’s most distinguished neighborhoods, offering a living environment that combines privacy, a strategic location, and integrated services.