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Riyadh, Saudi Arabia
Hassana Investment Company (Hassana) signed a Memorandum of Understanding (MoU) with Dar wa Emaar Real Estate Investment & Development Company (DWE) to develop a 1.2 million square meter real estate project in the Al Qadissiyah district of North Riyadh.
This collaboration, a strategic partnership built on mutual strengths, will focus on master planning, infrastructure development, public amenities, and potentially developing anchor real estate assets.
The development will accommodate up to 4,000 modern residential units and provide a total retail built-up area of approximately 100,000 square meters.
The residential-focused master plan development will offer quality residential, educational, entertainment, and retail spaces to meet the growing needs of modern Saudi families. It also creates attractive development opportunities for private sector sub-developers. The MoU was signed by Ahmed W. Alqahtani, CIO - Regional Markets of Hassana, and Osama Alkhunaizi, CEO of DWE.
Alqahtani stated, "This investment aligns with Hassana’s mission to invest in high-quality real estate projects in partnership with strong partners enabling sustainable returns to secure the future of all Saudi generations. In line with Vision 2030, this investment will add value to the thriving local economy and create partnership opportunities for the private sector."
Alkhunaizi expressed, "Dar wa Emaar is thrilled to partner with Hassana on this strategic project. This collaboration underscores our commitment to contributing to the Kingdom's ambitious Vision 2030 by providing world-class living spaces and amenities that cater to the needs of Saudi families."
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