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UAE-based property developer Arada, one of the world's fastest-growing real estate developers, has announced the launch of "Arada Saudi Arabia" as a new real estate development company to build large-scale communities across the Kingdom.
The expansion marks Arada's entry into the Saudi market through a strategic partnership with Extopia, a specialist in developing master-planned communities and mixed-use destinations.
Arada Saudi Arabia has appointed Mohamed Al Dhabaan, Chairman of Extopia, as Chairman of its Board of Directors, underscoring the vital role of local partnership in establishing the company's operations and expansion plans within the Kingdom.
The strategic partnership provides Arada Saudi Arabia with access to a land portfolio spanning approximately 10 million square metres, valued at AED 49 billion. Located across key prime locations in Riyadh, Jeddah, and Makkah, the portfolio offers a solid foundation to develop new projects and master-planned communities in some of the Kingdom's most critical real estate markets.
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