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Tatweer Company unveils $320 million mixed-use development in Riyadh, aligning with Saudi Vision 2030

The will encompass medical, office, residential, and commercial spaces, with ownership shared between Tatweer Company, Dallah Healthcare, and Dallah Real Estate

Tatweer Company unveils $320 million mixed-use development in Riyadh, aligning with Saudi Vision 2030

Tatweer Company, a Saudi-based real estate company has unveiled a new mixed-use project in Riyadh worth $320 million (SAR 1.2 billion). Situated on King Fahd Road, the project aims to enhance the urban environment and elevate the standards of living and working in the city. It will encompass medical, office, residential, and commercial spaces, with ownership shared between Tatweer Company, Dallah Healthcare, and Dallah Real Estate with Tatweer being the primary developer of this project.

The project will be managed by Aljazira Capital to ensure effective investment strategies. Dallah Healthcare and Dallah Real Estate will provide expertise and financial resources. Knight Frank has been appointed as a consultant to ensure high standards of innovation and sustainability.

The Managing Director of Tatweer, Hezam Bin Saeidan, expressed excitement over the project, stating that initiatives to enhance city life are becoming increasingly important to the public and their project aligns with the goals of Saudi Arabia’s Vision 2030, which aims to provide a high standard of living in Saudi cities.

“Our collaboration with partners like Dallah Healthcare and Dallah Real Estate will play a pivotal role in achieving our objectives, and will be added to Tatweer Company’s pioneering projects, including the recent acquisition of Al-Orouba industrial land for over $202 million (SAR 757 million),” he added.

The project’s goal, as stated by Bin Saeidan, is to create substantial investment returns while enhancing Riyadh’s office market with unique and modern office spaces. The development will also include high-quality housing options designed for comfort and convenience to cater to a variety of needs. Moreover, Dallah Healthcare will take advantage of this opportunity to expand healthcare services, promoting community well-being and making a positive contribution to the area’s growth.