Emaar The Economic City, Al Tahaluf to Develop Villas in KAEC’s Al Murooj

KING ABDULLAH ECONOMIC CITY (KAEC), Saudi Arabia – 31 July 2025 - Emaar The Economic City (EEC), the master developer behind King Abdullah Economic City, has signed a strategic agreement with Al Tahaluf, a Saudi-American joint venture between a subsidiary of K. Hovnanian and Hamad bin Saedan Real Estate Company, to develop two new high-end residential communities in the Al Murooj district.

The partnership reflects a shared commitment to creating a vibrant, lifestyle-oriented coastal district, reinforcing KAEC’s vision to attract premium developments and support Saudi Arabia’s Vision 2030 agenda for economic diversification and quality of life enhancement.

340 Lots, Tropical Modernism, and Red Sea Luxury

Under the agreement, Al Tahaluf will acquire 340 residential lots, ranging in size from 600 m² to 1,000 m², with built-up areas between 400 m² and 600 m². The communities will showcase tropical modernism, a unique architectural style defined by spacious, open-concept villas with expansive glass façades, shaded terraces, and lush landscaping. The villas will feature four to five bedrooms, gourmet kitchens, private two-car garages with additional space for golf buggies, and seamless indoor-outdoor integration.

The projects aim to deliver resort-style living along the scenic Red Sea coastline, catering to a growing demand for luxury homes—especially as foreign property ownership becomes permitted in designated zones beginning in 2026.

High-Impact Collaboration for a Lifestyle Destination

The agreement was signed by Abdulaziz Alnowaiser, CEO of EEC, and Robert Hofmann, CEO of Al Tahaluf.

“This agreement highlights KAEC’s continued evolution into a vibrant and future-ready city, offering high-quality residential, commercial, and leisure opportunities. We are delighted to partner with Al Tahaluf, whose presence signals strong investor interest in KAEC’s long-term potential as a destination of choice for home buyers in the Kingdom,” said Alnowaiser.

“We at Al Tahaluf are incredibly proud to be part of KAEC’s next chapter as a premier luxury lifestyle destination in the Kingdom,” said Hofmann. “Set along the breathtaking Red Sea coastline, our new communities at KAEC will offer an unparalleled setting with opportunities for world class championship golf, relaxation, wellness, and a full spectrum of watersports and waterside leisure. With seamless access to the Holy Cities of Mecca and Medina, as well as King Abdulaziz International Airport in Jeddah via the Haramain High Speed Railway, KAEC provides future residents with unmatched connectivity. Combined with pristine beaches, and visionary urban design, it is poised to become a destination of choice for both Saudi and international homebuyers and investors.”

Hofmann also noted that K. Hovnanian, a leading U.S. homebuilder and managing partner of Al Tahaluf, will apply its lifestyle community expertise and high-quality construction standards to the KAEC project.

Sales Launch in Late 2025

Al Tahaluf plans to launch villa sales in late 2025, with a formal design unveiling scheduled for Cityscape Global later this year.

This collaboration adds momentum to KAEC’s development pipeline and supports Saudi Arabia’s broader efforts to attract foreign direct investment and encourage private sector participation. With its world-class infrastructure, strategic location near Jeddah and the Red Sea, and a clear focus on lifestyle-driven urban planning, KAEC continues to position itself as a leading coastal destination for premium real estate and international investment.