Dubai's Majid Al Futtaim Properties to launch $4.7bn mega project in Riyadh: Report
The project's engineering designs are underway, with the tender and construction work scheduled to start in early 2026, Majid Al Futtaim Properties' CEO Ahmed Al Shamy told Al Arabiya TV.
The final installment of $100 million was paid in 2024 to complete land ownership, he said.
The project will cover an area of 850,000 square metres (sqm), with commercial, residential, administration and entertainment facilities.
Saudi Arabia is an attractive market in the long run as its GDP exceeds $1.5 trillion, Shamy said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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