A significant strategic partnership was formally agreed upon at Cityscape Saudi Arabia 2025. The collaboration between the Hassan Allam Holding and Tilal Real Estate alliance and the National Housing Company (NHC) will see the development of their first mixed-use project in Riyadh’s Khozam District. The planned community spans over 228,000 m² and represents an investment valued at more than SAR 3.3 billion. This development is a major step in delivering a modern urban living model by combining regional expertise with national leadership. This project directly supports Saudi Arabia’s Vision 2030 Housing Program, which seeks to significantly increase home ownership, with the NHC at the forefront of this initiative.

The agreement was signed in the presence of prominent figures including His Excellency Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing. Company leaders present included Hassan Allam and Amr Allam, CEO and CO-CEO of Hassan Allam Holding respectively; Mohamed Allam, CEO of Hassan Allam Properties; Sherif Sadek, CEO of Grova Developments; Mohamed Albuty, CEO of NHC; and Mr. Abdulrahman Al-Bassam, CEO, and Abdullah AlOthman, Chairman, of Tilal Real Estate. This investment will aid the objectives of the Vision 2030 Housing Program, aiming for a 70% homeownership rate by 2030 through public-private partnerships led by the NHC. The development is consistent with Riyadh’s broader aims to create sustainable, mixed-use communities that improve social well-being and quality of life.

The execution of the project will be managed by Grova Developments, the development arm of Hassan Allam Holding. Grova will utilise the Group’s extensive history of delivering major infrastructure projects across the region. Grova was established to focus the Group’s capabilities on creating outstanding real estate, hospitality, and cultural sites that establish new standards for design, experience, and enduring value. Tilal Real Estate, a major real estate company in the Kingdom, will act as the principal local partner to Hassan Allam Holding for the project’s development and execution. Additionally, Hassan Allam Properties (HAP) contributes its real estate knowledge, which is rooted in a community-focused vision.

Hassan Allam, CEO of Hassan Allam Holding, said: “This milestone reflects our confidence in Saudi Arabia’s dynamic real estate sector and our commitment to long-term investment in the Kingdom. For decades, we have delivered landmark projects that connect people, infrastructure, and opportunity. Through this partnership with NHC, we are bringing that legacy to Riyadh, building communities that combine sustainable design with lasting value for residents.”

Mr. Mohamed Albuty, CEO of the National Housing Company, said: “This partnership advances NHC’s strategy to attract foreign investment and transfer international expertise to the Saudi market, enhancing efficiency, diversifying offerings, and achieving top quality and sustainability standards. Through this agreement, we are opening new horizons for international investors to redefine real estate development and elevate the housing experience, aligned with our goal of developing vibrant urban destinations that enhance quality of life and drive economic growth.”

Mohamed Allam, CEO of Hassan Allam Properties, said: “Khozam represents a unique destination in Riyadh’s rapidly evolving landscape and illustrates the depth of opportunity emerging across the Kingdom. It is projects like these that reinforce our continued commitment to the Saudi market as it becomes one of the region’s most dynamic hubs for development.”

Sherif Sadek, CEO of Grova Developments, said: “The new project in Riyadh’s Khozam District reflects Grova’s commitment to creating contemporary and sustainable destinations that elevate urban living experiences and embody the standards of quality and excellence established by Hassan Allam Holding. Through this development, we aim to contribute to shaping Riyadh’s evolving urban landscape and enhancing quality of life in line with the city’s future aspirations.”

Mr. Abdulrahman Al-Bassam, CEO of Tilal Real Estate, said: “Our alliance with Hassan Allam Holding and NHC represents a synergy between deep local insight and distinguished regional expertise. Tilal’s strength lies in curating high-quality, large-scale projects that respond to Saudi families’ evolving needs. Khozam will stand as a model of what can be achieved when national vision meets private-sector innovation, a vibrant, sustainable community built for the next generation.”