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UAE’s Arada plans new investment in Saudi Arabia in H1-20

UAE’s Arada plans new investment in Saudi Arabia in H1-20
The project is expected before the end of next June

Riyadh – Mubasher: Arada Real Estate Company plans to pump new investments in Riyadh by the end of the first half (H1) of the year, as it sees promising opportunities in the Saudi market.

The UAE-based company is still in talks with Saudi companies to launch its first project in the Saudi capital, the company’s CEO Ahmed Al Khoshaibi told Mubasher.

Al Khoshaibi further noted that the company’s project comes in line with the goals of Saudi Vision 2030 by providing a smart sustainable community.

The new project will be similar to aljada project in Sharjah, which is the biggest in the emirate and is expected to be completed by 2025, with investments of around AED 24 billion ($6.5 billion).