Albasateen Real Estate unveils Al Basateen Tower project, signs development deals at Cityscape

Logo of Albasateen Real Estate Company

Albasateen Real Estate Company unveiled its Al Basateen Tower project in Riyadh, located at the intersection of King Fahd Road and the Northern Ring Road in Al Nakheel district, while taking part in Cityscape Global 2025. The project spans more than 3,500 square meters with over 60,000 square meters of built-up area (BUA) and consists of 36 above-ground floors and five basement levels.
 

The company also announced a strategic agreement with SEDCO Capital REIT to develop SAR 1.4 billion residential towers at the Masar Destination in Makkah. The development comprises two towers on a plot exceeding 5,300 square meters, with nearly 100,000 square meters of BUA, reaching 32 floors for the first tower and 26 for the second.
 

Albasateen further signed a cooperation agreement with Shurfah Holding to deliver high-standard educational facilities to be operated by Sherborne British Schools, which brings more than 375 years of educational heritage. The initiative aligns with the company’s plans to enhance services within its projects.
 

Additional projects introduced by the company include Al Basateen Offices in Diriyah, on a land plot spanning more than 25,000 square meters with almost 100,000 square meters of BUA; Kings Square in Al Yasmeen, covering more than 35,000 square meters and offering over 250,000 square meters of BUA; as well as The Hills in Diriyah, comprising 22 villas, each with nearly 1,000 square meters of BUA.
 

Albasateen also announced partnerships in development, financing and investment with Alinma Bank and Bisht Real Estate Co. as part of its expansion into higher-value projects.