Asbar Capital and Ladan Investment Company have signed an agreement worth an estimated SAR 339 million to develop a real estate project in Riyadh. Located on Prince Mohammed bin Salman Road in the Al-Munsiyah District, the development aims to introduce qualitative value to the capital's real estate market in line with Saudi Vision 2030 targets.
Al Ramz Real Estate has generated nearly SAR 670 million in reservations for its new Masar Corner development in Makkah. The project attracted global buyers from 51 countries during its official launch, led by investors from Nigeria, Indonesia, Pakistan, the US and Türkiye. Located in the heart of the Masar Destination, the two-tower scheme features 541 residential and commercial units.
ASFAR, the PIF-backed Saudi Tourism Investment Company, has opened Gamra Mountain Resort in Saudi Arabia’s Al Baha region. Spanning 21,000 square metres, the 30-room luxury property supports Saudi Vision 2030 by expanding hospitality infrastructure outside major hubs. Operated by Accor’s Mantis brand in partnership with IHCC, the resort incorporates local products and community engagement to drive sustainable regional economic growth.
Knowledge Economic City has signed an agreement with Almajdiah and Capital Hill to launch a SAR 2.8 billion residential development in Madinah. Built on 97,000 square metres of land, the project features 2,700 apartments, commercial units and extensive parking. The target market includes non-Saudi international Muslim buyers under updated Kingdom ownership rules, with funding handled via a closed-ended real estate investment fund.
Knowledge Economic City, Kaden and Capital Hill have signed a framework agreement to launch a private closed-ended real estate fund valued at over SAR 2.5 billion. The fund will finance a mixed-use project in Madinah, adding over 1,500 residential units and 30,000 square metres of leasable space. The initiative aims to meet rising demand driven by religious tourism and Saudi Vision 2030 targets.
Accor and Al Qimmah Hospitality have expanded their strategic agreement to build a joint portfolio exceeding 4,000 rooms in Saudi Arabia. The growth is marked by the signing of an 850-key Novotel property in Makkah, scheduled to open in 2030. The wider initiative spans five properties across Makkah, Madinah and Jeddah, supporting religious tourism infrastructure and domestic employment targets under Saudi Vision 2030.
