Let me explain
Arada Saudi has appointed the chairman of Xtopia as its chairman. The partnership gives the company access to a land portfolio of 10 million square metres with a total value of SAR 50 billion, across strategic sites in Riyadh, Jeddah and Makkah. The first project, an integrated residential community in Al Rimal in northeast Riyadh worth SAR 14 billion, covers about 2.5 million square metres and includes about 3,500 villas and townhouses surrounded by 100,000 trees, along with a school, retail, a community centre and sports facilities. The Al Rimal project will be financed through an investment structure regulated by the Capital Market Authority and managed by a licensed financial firm, with sales and construction starting in 2027. Arada's development pipeline is worth about SAR 189 billion across five markets, with more than 70,000 homes, and the company has delivered about 17,000 homes so far (Arada Saudi official announcement, 19 October 2026).