Real Estate Project Launched in Abha

Riyad Capital, in partnership with mdr Development, has launched the Shalalat Abha Project in Abha, Saudi Arabia, with a total value exceeding SAR1 billion. This marks Riyad Capital's initial real estate venture in the southern region and was announced at the Aseer Investment Forum. The project spans approximately 1 million square meters, situated east of Abha city, near Abha International Airport and King Khalid University.

The development will include essential infrastructure to prepare the land for commercial, tourism, residential, and entertainment purposes. This initiative aligns with the Aseer Development Strategy, supporting sustainable urban growth and economic diversification beyond traditional areas. For Riyad Capital, it represents a strategic move to expand its real estate investments into regions with significant growth potential.

Infrastructure development is slated to commence in Q2 2025, with full project completion anticipated within two years. Riyad Capital's CEO, Dr. Abdullah Alshwer, emphasizes the project's importance in their real estate expansion plans and its potential to positively impact the Aseer region's social and economic development.

mdr Development, responsible for infrastructure execution, highlights the project's potential to stimulate tourism and local investment. The Shalalat Abha Project is positioned as a key driver of regional development, reinforcing efforts to establish Aseer as a major investment destination, leveraging its natural beauty, improved infrastructure, and expanding urban areas, while contributing to Saudi Arabia's Vision 2030 goals.