{"id":675804,"date":"2025-11-19T00:00:00","date_gmt":"2025-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/19\/hassan-allam-holding-to-help-develop-sar-3-3-bn-project-in-riyadh-2\/"},"modified":"2025-11-19T00:00:00","modified_gmt":"2025-11-19T00:00:00","slug":"hassan-allam-holding-to-help-develop-sar-3-3-bn-project-in-riyadh-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/19\/hassan-allam-holding-to-help-develop-sar-3-3-bn-project-in-riyadh-2\/","title":{"rendered":"Hassan Allam Holding to help develop SAR 3.3 bn project in Riyadh"},"content":{"rendered":"

Egyptian players \u2665\ufe0fSaudi Arabia: <\/strong>Two Egyptian players announced projects in Saudi Arabia with combined investments exceeding SAR 3.4 bn.<\/p>\n

A SAR 3.3 BN REAL ESTATE PROJECT- <\/p>\n

Hassan Allam Holding and Tilal Real Estate will develop a SAR 3.3 bn <\/strong>integrated project in Riyadh <\/strong>under a strategic partnership inked with the National Housing Company (NHC), according to a joint st<\/a>atement (pdf)<\/a>. The 228k-sqm project \u2014 whose investments are set to total USD 880 mn at today\u2019s exchange rate \u2014 will be executed by Hassan Allam Holding\u2019s development arm Grova Developments, with Tilal Real Estate serving as the primary local partner.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The project aligns with Saudi Arabia\u2019s Vision 2030 housing program<\/strong>, an effort by the NHC to increase home ownership by \u201c[combining] regional expertise and national leadership to deliver a new model for modern urban living,\u201d according to the statement.<\/p>\n

What they said: <\/strong>\u201cThis 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,\u201d Hassan Allam Holding CEO Hassan Allam said.<\/p>\n

\n

A SAR 120 MN HOTEL-<\/p>\n

Local hospitality player<\/strong> Brassbell Hospitality Group<\/a><\/strong> launched Fanaya <\/strong>Hotel in Jeddah<\/strong> with a SAR 120 mn investment<\/strong>, the group\u2019s Vice President of Expansion and Growth Adham Elbedewy told EnterpriseAM. The move marks the group\u2019s first venture outside of Egypt and its first in the Kingdom, according to an emailed statement (pdf)<\/a>. The launch coincides with the tourism investments hype the Kingdom is seeing this quarter, Elbedewy told us.<\/p>\n

More to come: <\/strong>Brassbell is positioning the Kingdom as its primary expansion focus over the next five years, Elbedewy told us. Following its debut in Jeddah, the group is in advanced discussions to open two new Fanaya properties in Riyadh. It is also developing 145 units across two serviced apartment complexes in the capital, slated to open next year, Elbedewy said. In addition, Brassbell is in early negotiations for a wellness resort in Taif, and it is mulling developing a hybrid lifestyle hotel in the Eastern Province.<\/p>\n

Brassbell is \u201cextremely optimistic\u201d about the Kingdom\u2019s hospitality sector, as tourism is <\/strong>on track for \u201csustained double-digit annual growth,\u201d<\/strong> Elbedewy told us, citing major events and increased air connectivity driven by Vision 2030. Brassbell expects that demand will outpace supply, especially in Jeddah and Riyadh. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Brassbell launched SAR 120 mn Fanaya Hotel in Jeddah<\/p>\n","protected":false},"author":1,"featured_media":675805,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8861],"tags":[72,8860,890,955,83,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-675804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expansion","tag-enterpriseam","tag-expansion","tag-hassan-allam-holding","tag-hospitality","tag-real-estate","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"58700833-5a5a-4041-a3fd-53b02c6ee364","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/1444.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Hassan Allam Holding to help develop SAR 3.3 bn project in Riyadh","related_issue":[675793],"teaser":"PLUS- Brassbell launched SAR 120 mn Fanaya Hotel in Jeddah","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.f17e7814-d6c9-46a5-aec0-fac61f9c471f.mp3"},"yoast_head":"\nHassan Allam Holding to help develop SAR 3.3 bn project in Riyadh - 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We have news of regional developments, supply chain trends fuelled by popular beverages, and internet outages, so let\u2019s dive in.THE BIG STORY TODAY- ?Hassan Allam Holding and Tilal Real Estate will develop a SAR 3.3 bn integrated project in Riyadh under a strategic\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1399.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632007,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/adeer-to-set-up-mixed-use-development-in-east-cairo-alongside-paragon\/","url_meta":{"origin":675804,"position":2},"title":"Adeer to set up mixed-use development in East Cairo alongside Paragon","author":"enterpriseam admin","date":"9 July 2024","format":false,"excerpt":"The Saudi real estate developer has plans to partner with Egyptian companies on projects in Egypt and Saudi","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/659.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672071,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/egyptian-saudi-consortium-mulls-usd-1-bn-downtown-cairo-redevelopment\/","url_meta":{"origin":675804,"position":3},"title":"Egyptian-Saudi consortium mulls USD 1 bn Downtown Cairo redevelopment","author":"enterpriseam admin","date":"18 September 2025","format":false,"excerpt":"The consortium includes Saudi\u2019s Sumou Holding and its subsidiary Adeer International and local players Midar and Hassan Allam","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment 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