Hassan Allam Holding and Tilal Realty have actually signed a tactical partnership with the National Real Estate Company (NHC) to create a massive mixed-use neighborhood in Riyadh’s Khozam District.
Reported during Cityscape Saudi Arabia 2025, the project marks Hassan Allam Holding’s initial real estate venture in the Kingdom and will certainly be established with its subsidiary Grova Dope. The campaign spans over 228, 000 square metres and brings an investment worth exceeding SAR 3 3 billion.
The brand-new community will integrate residential, retail and leisure components, designed to advertise lasting city living. It sustains the Vision 2030 Real estate Program, which aims to increase own a home rates in Saudi Arabia to 70 percent by the end of the decade with public-private partnership.
The contract was authorized in the existence of His Excellency Majed bin Abdullah Al-Hogail, Preacher of Municipal and Rural Matters and Housing, alongside senior execs from Hassan Allam Holding, Tilal Property and NHC.
Hassan Allam, CEO of Hassan Allam Holding, said: “This landmark mirrors our confidence in Saudi Arabia’s vibrant property field and our commitment to lasting investment in the Kingdom. With this partnership with NHC, we are bringing our heritage of building communities that incorporate sustainable style with lasting value for locals.”
Mohamed Allam, CEO of Hassan Allam Residence, explained Khozam as “a distinct destination in Riyadh’s progressing landscape,” while Grova Advancement CEO Sherif Sadek said the project “reflects Grova’s commitment to creating contemporary and sustainable destinations that raise urban living.”
Tilal Real Estate CEO Abdulrahman Al-Bassam included that the partnership “stands for a synergy in between deep regional understanding and recognized local competence,” placing Khozam as “a design of what can be accomplished when nationwide vision meets private-sector innovation.”
Mohamed Albuty, CEO of NHC, said the partnership breakthroughs the firm’s method to attract foreign investment and transfer worldwide expertise to Saudi Arabia’s housing market. “Through this agreement, we are opening new horizons for international investors to redefine realty development and raise the real estate experience,” he said.
The advancement belongs to Riyadh’s broader strategy to develop sustainable, mixed-use areas that boost liveability, social communication and economic growth.
