Hassana and Dar wa Emaar Launch Major Real Estate Project in North Riyadh

Hassana Investment Company (Hassana) has inked a Memorandum of Understanding (MoU) with Dar wa Emaar Real Estate Investment & Development Company (DWE) to embark on a substantial real estate venture in North Riyadh's Al Qadissiyah district. The project, spanning 1.2 million square meters, marks a significant strategic partnership aimed at leveraging mutual strengths in master planning, infrastructure development, and the creation of public amenities and key real estate assets.

The development is set to feature up to 4,000 modern residential units and a retail space totaling approximately 100,000 square meters. Designed to cater to the evolving needs of contemporary Saudi families, the master plan includes residential, educational, entertainment, and retail spaces, and offers attractive 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 emphasized that the investment aligns with Hassana's mission to pursue high-quality real estate projects with strong partners, ensuring sustainable returns for future Saudi generations. He highlighted that this initiative, in line with Vision 2030, will bolster the local economy and foster private sector partnerships.

Alkhunaizi echoed this sentiment, expressing Dar wa Emaar's excitement to collaborate with Hassana. He underscored their commitment to contributing to the Kingdom's Vision 2030 by providing top-tier living spaces and amenities tailored to Saudi families' needs.

Source: Saudi Gazette