Riyadh - Saudi Arabia
Talaat Mustafa Holding Group announced that its development arm in Saudi Arabia, “Talaat Mustafa Group Saudi Arabia,” has signed a preliminary strategic agreement with the “Roshen” Group, affiliated with the Saudi Public Investment Fund, to establish a joint company that will undertake the research and development of an integrated, multi-use real estate and urban project in the capital, Riyadh.

51% for Talaat Mostafa and 49% for Roshen

According to the disclosure sent to the Egyptian Stock Exchange, “Saudi Talaat Mustafa Group” will own a 51% stake in the joint company, while “Roshen” will own 49%. The project is located in the heart of Riyadh, and is planned to include more than 55,000 advanced residential units, in addition to commercial, office, tourism and entertainment facilities, educational and health facilities, gardens and green spaces.

A tourist dimension that enhances travel and hospitality

The project has a clear tourism dimension, as it is based on the integrated real estate and tourism development model adopted by the group, while taking advantage of Roshen’s strategic land portfolio to meet the growing demand for integrated urban communities, and enhance the tourism and commercial infrastructure that supports regional and international travel and investment in the Kingdom.
An opportunity for Arab investors in the hospitality sector

For the Arab investor, the project opens horizons in the sectors of hospitality, entertainment and services related to an urban community of this size, especially with the increasing demand for hotel units, restaurants and entertainment facilities in Riyadh within the goals of Vision 2030, which makes these alliances an indicator of the transformation of the Saudi capital into an attractive market for integrated tourism and real estate investments.