ع
Arada said in a statement that it had established Arada KSA as a new real estate development company formed in partnership with Saudi developer XTOPIA. Mohammed AlDhabaan, chairman of XTOPIA, was appointed to chair the new entity. The launch represents Arada’s expansion into Saudi Arabia as its fifth global market alongside the UAE, the UK, Australia and Syria. According to the announcement, Arada KSA will focus on delivering large-scale integrated communities aligned with Saudi national development priorities.
Arada KSA has access to a 10 million square metre land bank valued at AED49 billion across the kingdom, the company reported. The land portfolio covers strategic sites in Riyadh, Jeddah and Makkah. This land access will enable multiple projects over the coming years. The partnership combines Arada’s master-planning experience with XTOPIA’s local market knowledge.
The first project is a residential master plan in the Al Rimal district of north-eastern Riyadh with a gross development value of AED13.7 billion, according to the developer. The 2.5 million square metre site will include 3,500 villas and townhouses, a school, retail outlets, a community centre and sporting facilities surrounded by 100,000 trees. Sales are set to begin next year while construction starts in mid-2027 with handovers expected about five years later. The project is located near the main airport.
The Saudi entry increases Arada’s overall project pipeline to AED185 billion across its five markets, the company stated. The pipeline now includes more than 70,000 homes. Arada has delivered approximately 17,000 homes to date in its existing operations. The announcement was distributed via press release on October 20.
Group chief executive Ahmed Alkhoshaibi said the company had entered the market while conditions were weak to secure favourable land terms. “When the market is down, you can negotiate very good terms,” Alkhoshaibi said. He added that the primary demand would come from Saudi nationals seeking homes, further supported by government efforts to raise home ownership rates.
A Knight Frank Mena assessment found that Saudi housing transaction volumes halved in the first quarter of 2026 while the sales value dropped 57 percent to SAR22 billion. In Riyadh, both volumes and sales prices fell 82 percent although apartment values increased 6 percent year on year. The development occurs as Saudi Arabia continues to encourage foreign investment in real estate under its broader economic diversification initiatives.
The joint venture will be funded through a Capital Market Authority-regulated investment structure managed by Al Rajhi Capital, according to the statement. Arada is jointly owned by KBW Investments, led by Prince Khaled bin Alwaleed, and Sharjah-based Basma Group. The company first signalled interest in Saudi opportunities more than two years ago as part of its international growth strategy.
