Hassan Allam Holding and Telal Real Estate have signed an agreement with the National Housing Company (NHC) to develop the first mixed-use project in the Khuzam district, north of Riyadh, during Cityscape Global 2025. The signing ceremony was attended by the Minister of Municipal and Rural Affairs and Housing, along with senior executives from the participating companies.
The project will be developed by GROVA Development, the newly established development arm of Hassan Allam Holding, leveraging the group’s extensive regional experience in major infrastructure projects. Telal Real Estate will serve as the local partner, being one of the leading real estate developers in Saudi Arabia.
The companies noted that the project reflects growing confidence in the Saudi real estate sector and aims to create a modern, sustainable urban destination in Khuzam, aligned with Riyadh’s fast-paced growth and quality-of-life objectives. NHC emphasized that the partnership supports its strategy to attract foreign investment and introduce global expertise to the Saudi market.
The project spans more than 228,000 square meters with an investment value exceeding SAR 3.3 billion, contributing to the goals of the Housing Program under Saudi Vision 2030, which seeks to raise homeownership rates to 70% and promote the development of integrated, mixed-use urban destinations.
