Hassan Allam Holding and Tilal Real Estate have signed a strategic partnership with the National Housing Company (NHC) to develop a large-scale mixed-use community in Riyadh’s Khozam District.
Announced during Cityscape Saudi Arabia 2025, the project marks Hassan Allam Holding’s first real estate venture in the Kingdom and will be developed through its subsidiary Grova Developments. The initiative spans over 228,000 square metres and carries an investment value exceeding SAR3.3 billion.
The new community will combine residential, retail and leisure components, designed to promote sustainable urban living. It supports the Vision 2030 Housing Programme, which aims to raise home ownership rates in Saudi Arabia to 70 per cent by the end of the decade through public-private collaboration.
The agreement was signed in the presence of His Excellency Majed bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing, alongside senior executives from Hassan Allam Holding, Tilal Real Estate and NHC.
Hassan Allam, CEO of Hassan Allam Holding, said: “This milestone reflects our confidence in Saudi Arabia’s dynamic real estate sector and our commitment to long-term investment in the Kingdom. Through this partnership with NHC, we are bringing our legacy of building communities that combine sustainable design with lasting value for residents.”
Mohamed Allam, CEO of Hassan Allam Properties, described Khozam as “a unique destination in Riyadh’s evolving landscape,” while Grova Developments CEO Sherif Sadek said the project “reflects Grova’s commitment to creating contemporary and sustainable destinations that elevate urban living.”
Tilal Real Estate CEO Abdulrahman Al-Bassam added that the partnership “represents a synergy between deep local insight and distinguished regional expertise,” positioning Khozam as “a model of what can be achieved when national vision meets private-sector innovation.”
Mohamed Albuty, CEO of NHC, said the collaboration advances the company’s strategy to attract foreign investment and transfer international expertise to Saudi Arabia’s housing market. “Through this agreement, we are opening new horizons for international investors to redefine real estate development and elevate the housing experience,” he said.
The development is part of Riyadh’s wider plan to create sustainable, mixed-use neighbourhoods that enhance liveability, social cohesion and economic growth.
