Majid Al Futtaim Properties to launch SAR 17.5B project in Riyadh

15/04/2025 Argaam


Majid Al Futtaim Properties plans to develop a major mixed-use project in Riyadh, covering 850,000 square meters, with investments totaling SAR 17.5 billion, CEO Ahmed Al Shamy told Al Arabiya.

 

For more news and details on the projects

 

The company finalized the full land acquisition after paying the final $100 million installment last year, Al Shamy said.

 

The development will include residential, commercial, office, and entertainment components.

 

Engineering designs are in progress, with the launch and construction scheduled to start early next year, he added.

 

Al Shamy noted that Saudi Arabia’s gross domestic product (GDP) now exceeds $1.5 trillion, twice that of the UAE, making it a strong and attractive market for long-term real estate investment.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.