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Riyadh, Saudi Arabia
Saudi Arabia has launched a tender for a 50-year public-private partnership (PPP) to develop a mixed-use real estate project in Riyadh’s Al-Narjis District, supporting the Kingdom’s efforts to expand private-sector participation in urban development.
The project, known as the Joint Development Agreement Project, is being overseen by the Ministry of Municipalities and Housing, Riyadh Region Municipality, and the National Center for Privatization & PPP (NCP).
Spanning 30,015 square metres, the development site is located on Zaid bin Asim Street in northern Riyadh and will accommodate integrated residential, commercial, office, and recreational facilities designed to serve the surrounding community.
Under the proposed partnership structure, the private-sector partner will undertake the project’s design, construction, operation, and maintenance throughout the 50-year contractual period.
The initiative supports long-term real estate investment opportunities and the development of integrated urban destinations across Saudi Arabia’s capital
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