Arada launches Saudi unit with $13.3bn land bank

Riyadh, Saudi Arabia - UAE developer Arada has launched Arada KSA, establishing a new development platform in Saudi Arabia through a strategic partnership with local community and lifestyle company XTOPIA.

The new business has access to around 10 million sq m of land valued at $13.3 billion (AED49 billion) across Riyadh, Jeddah and Makkah, giving the developer a substantial platform for future large-scale residential and mixed-use communities.

Mohammed AlDhabaan, Chairman of XTOPIA, has been appointed Chairman of Arada KSA as the company begins building its operations in the Kingdom.

The Saudi expansion adds another market to Arada’s growing international portfolio. The developer now has a project pipeline valued at approximately $50.4 billion (AED185 billion) across Saudi Arabia, the UAE, the UK, Australia and Syria, comprising more than 70,000 homes.

Arada has delivered around 17,000 homes to date.

Its first Saudi development will be a $3.8 billion (AED14 billion) residential masterplan in the Al Rimal district of north-eastern Riyadh.

The project will occupy approximately 2.5 million sq m and is planned to include around 3,500 villas and townhouses.

Landscaping will form a significant part of the masterplan, with approximately 100,000 trees planned across the development. A school, retail facilities, community centre and sporting amenities will also be incorporated into the neighbourhood.

Arada KSA will work with relevant Saudi government authorities as the masterplan progresses, with the development intended to support the Kingdom’s housing and wider national development priorities.

Mohammed AlDhabaan said: “Our land bank, which features key strategic locations across the Kingdom, positions Arada KSA as a platform with genuine national scale and reach.”

He added that combining Arada’s experience in developing integrated communities with XTOPIA’s knowledge of the Saudi market would support the company’s long-term expansion in the Kingdom.

Financing for the Al Rimal development will be arranged through an investment structure regulated by Saudi Arabia’s Capital Market Authority and managed by a licensed financial company.

Both sales and onsite construction are scheduled to begin in 2027.

The project will also support the objectives of Saudi Arabia’s Quality of Life Programme, one of the initiatives under Vision 2030 aimed at improving the liveability of cities across the Kingdom.

In Riyadh, the wider Green Riyadh programme led by the Royal Commission for Riyadh City targets the planting of 7.5 million trees and an increase in green space per person from 1.7 sq m to 28 sq m by 2030.

Arada’s entry into the Kingdom gives the developer a platform not only for its debut Riyadh community but also for future developments across its land holdings in Jeddah and Makkah.