Aldar’s project model 
UAE-based developer Arada announced the launch of Arada KSA in partnership with Xtopia, a Saudi developer specializing in mixed-use communities and destinations, to develop real estate projects across the Kingdom.
In a statement, the company said the partnership gives Arada KSA access to a land bank spanning 10 million square metres, valued at AED 49 billion, across key locations in Riyadh, Jeddah and Makkah.
According to the statement, Arada KSA unveiled its first project, an integrated residential community worth AED 14 billion ($3.8 billion) in the Al Rimal district in north-eastern Riyadh. Spanning 2.5 million square metres, the development will feature approximately 3,500 villas and townhouses, alongside a school, retail and sports facilities, and a community centre.
The project will be financed through an investment structure regulated by Saudi Arabia’s Capital Market Authority (CMA) and managed by a licensed financial firm, with sales and construction scheduled to begin in 2027.
Arada added that the new company will develop large-scale residential communities across Saudi Arabia, noting that Mohammed AlDhabaan, Chairman of Xtopia, has been appointed Chairman of Arada KSA.
The launch forms part of its global expansion strategy. Its development pipeline is valued at approximately AED 185 billion across five markets, comprising more than 70,000 homes, of which around 17,000 have been completed to date.
Aldar’s project model
UAE-based developer Arada announced the launch of Arada KSA in partnership with Xtopia, a Saudi developer specializing in mixed-use communities and destinations, to develop real estate projects across the Kingdom.
In a statement, the company said the partnership gives Arada KSA access to a land bank spanning 10 million square metres, valued at AED 49 billion, across key locations in Riyadh, Jeddah and Makkah.
According to the statement, Arada KSA unveiled its first project, an integrated residential community worth AED 14 billion ($3.8 billion) in the Al Rimal district in north-eastern Riyadh. Spanning 2.5 million square metres, the development will feature approximately 3,500 villas and townhouses, alongside a school, retail and sports facilities, and a community centre.
The project will be financed through an investment structure regulated by Saudi Arabia’s Capital Market Authority (CMA) and managed by a licensed financial firm, with sales and construction scheduled to begin in 2027.
Arada added that the new company will develop large-scale residential communities across Saudi Arabia, noting that Mohammed AlDhabaan, Chairman of Xtopia, has been appointed Chairman of Arada KSA.
The launch forms part of its global expansion strategy. Its development pipeline is valued at approximately AED 185 billion across five markets, comprising more than 70,000 homes, of which around 17,000 have been completed to date.
