The opening day of Cityscape Global kicked off yesterday, with total investments worth over SAR 161 bn to be unveiled during the first two days, Municipalities and Housing Minister Majed Al Hoqail said in his opening remarks (watch, runtime: 01:59:55).

A pillar of the economy: The real estate sector contributed 13.8% to the national GDP until 2Q 2025, along with attracting 15.3% of the total FDI inflows in 2024, Al Hoqail said. The robust economic performance is fueled by massive projected demand as the Kingdom’s major cities — Riyadh, Makkah, Madinah, Jeddah, and Dammam — require over 1.5 mn residential units by 2030, with Riyadh alone accounting for 46% of this total amounting to 731k units.

SIGN OF THE TIMES- The Kingdom completed its first property title deed tokenization process between the National Housing Company (NHC) and investors, Al Hoqail said. The Real Estate General Authority (Rega) will oversee the global standards for these digital assets — expected to be public by early 2026 — rather than deferring to private tech firms. The move is coupled with a broader wave of PropTech innovation, where AI and augmented reality are increasingly being utilized to manage the Kingdom’s vast construction pipeline.

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THE BIGGEST ANNOUNCEMENTS-

The National Housing Company (NHC) unveiled 134k available units with investments exceeding SAR 100 bn, a step closer to its 2025 objective of 300k available units by year-end. NHC inked over SAR 8 bn worth of new partnerships with players from South Korea, China, Turkey, and Egypt during the event, with more than SAR 40 bn in global partnerships so far. The agreements include:

  • Dar wa Emaar will invest SAR 3.8 bn with to develop Al Narjis Communities in northern Riyadh and Al Fursan Communities in northeast of the capital, according to a press release. The company launched the first phase called Saraya al Fursan 3 project, containing over 1.7k villas and townhouses and 814 apartments, as well as healthcare, educational, commercial, and religious facilities. Al Narjis Communities include Greens for commercial spaces, and 210-unit Al Narjis Heights, 540-unit Al Narjis Residence.
  • Mountain View KSA will launch the USD 600 mn residential project Hayat, according to an emailed statement (pdf) to EnterpriseAM. Located in Riyadh’s Al Fursan District, Hayat spans 932.3k sqm and comprises 1.7k villas ranging in size from 244.1 sqm to 387.5 sqm. The project also features The Lighthouse, a dedicated community hub focused on organizing cultural activities and offering commercial spaces.
  • A SAR 3 bn agreement was signed with our friends at Hassan Allam Properties to establish 2.6k residential units spanning apartments, multi-use commercial units on 200k sqm in Khuzam northern Riyadh, state news agency SPA reported yesterday.
  • A SAR 1 bn investment with Emlak Konut will see the Turkish firm develop 255k sqm of land plots in Makkah Gate providing over 1k villas, state news agency SPA reported yesterday.
  • NHC also launched Phase 3 of Jawharat Al Fursan alongside Al RashidProperties, offering 1.8k units covering 1.1 mn sqm, according to a press release.

Looking ahead, NHC will offer SAR 60 bn in investment windows in residential and commercial units next year, CEO Mohammad Albuty said. The company’s total portfolio reached SAR 200 bn 1H 2025, with expectations to surpass SAR 0.5 tn by 2030.

Real estate provider Ajdan is investing USD 3.1 bn to open four new mixed-use destinations in Khobar, Riyadh and Jeddah, totaling 950k sqm of land. The projects include multi-use destinations project in Sports Boulevard, Khobar Pier (136 units, 150 hotel keys), Ajdan Towers (539 units, 740 hotel keys), and Grand Square (366 units). Ajdan also forged a partnership with Saudi Awwal Bank for funding some of the development projects, it posted on X.

Our friends at Retal Urban Development launched a new investment portfolio of up to SAR 11.6 bn (c. USD 3.1 bn) to establish six residential projects across the Kingdom, including Deera, a residential sustainable city on about one mn sqm, Retal Heights on an area of 9.4k sqm, the 2.4k sqm Roya Al Haram residential tower, the 37k sqm Ayala Hills residential project in Riyadh, the 187k sqm Ayala Sedra in Riyadh, and Ewan Makkah 49k sqm.

Al Majdiah invested USD 2.5 bn to establish a multi-use project in Sports Boulevard, a number of mixed-use towers in King Salman Road, residential towers in Makkah Masar Destination, and a residential district in Makkah.

MEANWHILE- PIF’s Diriyah Company awarded three major projects worth a total of SAR 5.7 bn (c. USD 1.5 bn), along with unveiling the 239-unit Manazel Al Hadawi project within its Media and Innovation District, it said in a press release yesterday. Bec Arabia Contracting Company will develop the units of Manazel Al Hadawi and the south offices within the district, while Al Mabani General Contractors is tasked with the construction of King Khalid Road.

Al Othaim Investment will invest over USD 1.1 bn to establish two new Konooz projects. The Al Othaim Konooz in Madinah will span an area of 557k sqm near Ohoud Mountain, featuring 240 hotel keys and 1.5k residential units, along with commercial spaces. Meanwhile, Al Othaim Konooz in Khamis Mushait takes up about 1 mn sqm of land plot and comprises 2.6k residential units, 140 hotel keys, and 203k sqm land plot dedicated to commercial spaces.

ALSO- Liwan Real Estate Development launched SAR 4.5 bn Liwan Najd offering over 2.5k units, according to a press release yesterday. Located in Riyadh’s Granada District, the planned project covers an area of 600k sqm featuring studios, 1-3 bedrooms, penthouses, townhouses, villas, offices, retail, F&B, a mosque, and landscaped open areas.

AND- Mohammad Al Habib Real Estate launched the integrated city Tura with USD 1.3 bn in investments, located in northern Riyadh.

King Salman Park (Spark) inked an agreement with Ajdan and Sedco Capital to establish a SAR 3.8 bn (c. USD 1 bn) real estate fund to develop a 106k sqm mixed-use district beside the Royal Arts Complex within Spark, featuring 600 residential units, 200 hotel keys and 45k sqm allocated for offices and lifestyle amenities. With more packages to unveil in 2026.

Umm Al Qura also inked about SAR 1.6 bn prereservation agreements, including a SAR 1.1 bn agreement with Alistithmar-managed Madar Al Tasi Fund to pre-reserve two land plots. Near Makkah’s Holy Mosque, Umm Al Qura will establish two residential towers comprising 400 units along with Dar Al Majed and Al Obaikan Real Estate Company. The company also inked a SAR 493 mn pre-reservation agreement with Alistithmar-managed Sharq Al Asimah Fund to build a 195-unit hotel within Makkah in partnership with Ark Projects.

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