Hassana Investment Company has recently inked a partnership with Dar wa Emaar Real Estate Investment & Development Company to work on a massive real estate project in North Riyadh. This project will cover a vast area of 1.2 million square meters in the Al Qadissiyah district and will focus on various aspects such as master planning, infrastructure development, public amenities, and potentially developing anchor real estate assets. The goal of this collaboration is to create up to 4,000 modern residential units and a total retail built-up area of about 100,000 square meters.
The main focus of the development is to meet the growing needs of modern Saudi families by offering quality residential, educational, entertainment, and retail spaces. Additionally, this project will provide attractive development opportunities for private sector sub-developers, further boosting the local economy and creating partnership opportunities for the private sector. The MoU for this project was signed by Ahmed W. Alqahtani, CIO – Regional Markets of Hassana, and Osama Alkhunaizi, CEO of DWE.
According to Alqahtani, this investment aligns with Hassana’s objective to invest in high-quality real estate projects in collaboration with strong partners to ensure sustainable returns for the future generations of Saudi Arabia. He also emphasized that this investment will add significant value to the thriving local economy in line with Vision 2030. On the other hand, Alkhunaizi expressed his enthusiasm about partnering with Hassana on this significant project, highlighting their commitment to supporting Vision 2030 by providing top-notch living spaces and amenities for Saudi families.
This strategic partnership between Hassana and DWE signifies a major step towards fulfilling the objectives of Vision 2030, which aims to diversify the Saudi economy and reduce its dependence on oil revenues. By focusing on developing modern residential units and retail spaces, this project will not only cater to the evolving needs of Saudi families but also open up opportunities for private sector sub-developers. The collaboration showcases the commitment of both companies to support the Kingdom’s ambitious vision and contribute towards its economic growth.
The real estate project in the Al Qadissiyah district of North Riyadh is a significant development that will have a lasting impact on the local community. By providing top-quality residential, educational, and retail spaces, the project aims to enhance the living standards of Saudi families and create a vibrant and sustainable community. The collaboration between Hassana and DWE highlights the importance of strategic partnerships in driving economic growth and fulfilling the objectives of Vision 2030.
Overall, the partnership between Hassana Investment Company and Dar wa Emaar Real Estate Investment & Development Company signifies a major step towards developing high-quality real estate projects in Saudi Arabia. By focusing on modern residential units, retail spaces, and public amenities, this collaboration aims to meet the evolving needs of Saudi families and contribute towards the economic growth of the Kingdom. This project exemplifies the commitment of both companies to supporting Vision 2030 and creating sustainable development opportunities for the future generations of Saudi Arabia.
