Arada CEO Ahmed Alkhoshaibi said the development company had noticed investor interest from the country ‘rise significantly over the course of the last year’
Real estate developer Arada, known for its $6.5bn mega project Aljada will expand its operations to Abu Dhabi and Saudi Arabia in the first half of this year, chief executive officer Ahmed Alkhoshaibi told Construction Week.
Describing Saudi Arabia as a “hugely important” market for Arada, Alkhoshaibi said the development company had noticed investor interest from the country “rise significantly over the course of the last year”.
Saudi Arabian nationals had purchased 250 homes in Aljada and Nasma Residences by the end of 2018, the CEO said.
Saudi Arabian nationals had purchased 250 homes in Aljada and Nasma Residences by the end of 2018, the CEO said.
Opening an office and sales centre in Saudi Arabia was “inevitable”, according to Alkhoshaibi, and Arada is studying a shortlist of Riyadh locations to establish a physical presence in the kingdom during H1 2019.
