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Sharjah developer Arada is making its Saudi debut with a USD 3.8 bn residential project in Riyadh, according to a press release. The company plans to develop 100k homes across the Kingdom over the next three to five years, with further projects planned in Jeddah and Makkah, CEO Ahmed Alkhoshaibi told The National. That’s half of Arada’s target to develop 200k homes across its markets over the same period. Arada is co-owned by Saudi businessman Prince Khaled bin Alwaleed’s KBW Investments and Sharjah-based Basma Group.
First stop, Riyadh: The developer’s debut project will span 2.5 mn sqm in the capital’s Al Rimal district, with 3.5k villas and townhouses, alongside retail, education, and leisure facilities. Construction is expected to begin in mid-2027, with completion targeted within five years.
Arada KSA, formed in partnership with Saudi property investor Xtopia, has access to a 10 mn sqm landbank across Riyadh, Jeddah, and Makkah valued at AED 49 bn.
October sukuk are in
The National Debt Management Center allocated around SAR 6.7 bn in its October 2026 SAR-denominated sukuk issuance under the Kingdom’s local sukuk program, it said in a statement. The issuance was divided into four tranches: SAR 265 mn in sukuk maturing in 2031, SAR 2.7 bn maturing in 2033, SAR 3.4 bn maturing in 2036, and SAR 302 mn maturing in 2039.
Gathering pace
Expo 2030 Riyadh tendered the design-and-build contract for its Adaptation and Innovation Pavilion in the exhibition’s Technology District, with bids due on 6 January, 2027, according to MEED. The pavilion will occupy a plot of at least 12,710 sqm and include exhibition spaces, an amphitheater, a resonance hall, retail and food and beverage outlets, VIP facilities, and an elevated skywalk.
REMEMBER- The Expo was going local as the US-Iran war put Saudi supply chains through their latest stress test, with contractors dealing with higher logistics costs, longer lead times, and the risk of material shortages as the conflict disrupted regional shipping.
