Madar Real Estate Company and Madar Al-Arid Real Estate Company signed an agreement.

The agreement brings the two companies together to integrate their roles in the project, with Madar Real Estate Company undertaking the development, execution, and marketing activities, building on its experience in these areas.

The Project

The Madar Al-Arid Villas project is being developed on a plot of land spanning 8,325 square meters and comprises 62 residential units: 30 independent duplexes, 28 townhouses, and 4 standalone corner villas.

Location

Al-Arid District is one of the fastest-growing neighborhoods in North Riyadh and is experiencing strong demand for residential units. The district has undergone significant transformation in recent years. The project is conveniently located near the city's main thoroughfares, public transportation network, as well as schools, hospitals, and retail outlets in the surrounding area.

Statement by Eng. Badr bin Issa Al-Saadoun, CEO of Madar Real Estate Company

“Al-Arid Madar Villas is a project we place particular emphasis on because it addresses an existing need in the Riyadh market: thoughtfully designed residential units in a sought-after neighborhood. Our commitment is clear: to build to the quality standards we have promised and to deliver on the agreed-upon schedule.

We hope this will be the beginning of further partnerships along the same lines.”

The Project in the Context of the Market

Saudi Arabia is working to increase the rate of homeownership as part of the objectives of Vision 2030. Riyadh continues to experience year-on-year population and urban growth, while demand for high-quality residential units is increasing. The Madar Al-Arid Villas project comes within this broader market trend.