Hassan Allam Holding and Tilal Actual Property have signed a strategic partnership with the Nationwide Housing Firm (NHC) to develop a large-scale mixed-use neighborhood in Riyadh’s Khozam District.
Introduced throughout Cityscape Saudi Arabia 2025, the venture marks Hassan Allam Holding’s first actual property enterprise within the Kingdom and can be developed by means of its subsidiary Grova Developments. The initiative spans over 228,000 sq. metres and carries an funding worth exceeding SAR3.3 billion.
The brand new neighborhood will mix residential, retail and leisure elements, designed to advertise sustainable city residing. It helps the Imaginative and prescient 2030 Housing Programme, which goals to boost dwelling possession charges in Saudi Arabia to 70 per cent by the tip of the last decade by means of public-private collaboration.
The settlement was signed within the presence of His Excellency Majed bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing, alongside senior executives from Hassan Allam Holding, Tilal Actual Property and NHC.
Hassan Allam, CEO of Hassan Allam Holding, stated: “This milestone displays our confidence in Saudi Arabia’s dynamic actual property sector and our dedication to long-term funding within the Kingdom. By means of this partnership with NHC, we’re bringing our legacy of constructing communities that mix sustainable design with lasting worth for residents.”
Mohamed Allam, CEO of Hassan Allam Properties, described Khozam as “a novel vacation spot in Riyadh’s evolving panorama,” whereas Grova Developments CEO Sherif Sadek stated the venture “displays Grova’s dedication to creating up to date and sustainable locations that elevate city residing.”
Tilal Actual Property CEO Abdulrahman Al-Bassam added that the partnership “represents a synergy between deep native perception and distinguished regional experience,” positioning Khozam as “a mannequin of what may be achieved when nationwide imaginative and prescient meets private-sector innovation.”
Mohamed Albuty, CEO of NHC, stated the collaboration advances the corporate’s technique to draw international funding and switch worldwide experience to Saudi Arabia’s housing market. “By means of this settlement, we’re opening new horizons for worldwide traders to redefine actual property growth and elevate the housing expertise,” he stated.
The event is a part of Riyadh’s wider plan to create sustainable, mixed-use neighbourhoods that improve liveability, social cohesion and financial progress.
