Hassan Allam Holding and Tilal Real Estate alliance have signed a strategic partnership with the National Housing Company (NHC) during Cityscape Saudi Arabia 2025 to develop their first mixed-use project in Riyadh’s Khozam District.
The project will be delivered through Hassan Allam Holding’s development arm, Grova Developments, which will draw on the Group’s long-standing experience delivering some of the region’s most transformative infrastructure projects.
Grova was established to channel the Group’s capabilities into shaping exceptional real estate, hospitality, and cultural destinations that set new benchmarks for design, experience, and long-term value.
In turn, Tilal Real Estate, one of the Kingdom’s largest real estate companies, will serve as the primary local partner to Hassan Allam Holding in the development and execution of this pioneering project.
Officials’ comments on Hassan Allam Holding-Tilal Real Estate-NHC Partnership
Hassan Allam CEO – Hassan Allam Holding
“This milestone reflects our confidence in Saudi Arabia’s dynamic real estate sector and our commitment to long-term investment in the Kingdom. For decades, we have delivered landmark projects that connect people, infrastructure, and opportunity. Through this partnership with NHC, we are bringing that legacy to Riyadh, building communities that combine sustainable design with lasting value for residents.”
Sherif Sadek, CEO of Grova Developments, stated that, “The new project in Riyadh’s Khozam District reflects Grova’s commitment to creating contemporary and sustainable destinations that elevate urban living experiences and embody the standards of quality and excellence established by Hassan Allam Holding. Through this development, we aim to contribute to shaping Riyadh’s evolving urban landscape and enhancing the quality of life in line with the city’s future aspirations.”
Abdulrahman Al-Bassam, CEO of Tilal Real Estate, noted that, “Our alliance with Hassan Allam Holding and NHC represents a synergy between deep local insight and distinguished regional expertise. Tilal’s strength lies in curating high-quality, large-scale projects that respond to Saudi families’ evolving needs. Khozam will stand as a model of what can be achieved when national vision meets private-sector innovation, a vibrant, sustainable community built for the next generation.”
Mohamed Albuty, CEO of the National Housing Company, remarked that, “This partnership advances NHC’s strategy to attract foreign investment and transfer international expertise to the Saudi market, enhancing efficiency, diversifying offerings, and achieving top quality and sustainability standards. Through this agreement, we are opening new horizons for international investors to redefine real estate development and elevate the housing experience, aligned with our goal of developing vibrant urban destinations that enhance quality of life and drive economic growth.”
A $879 Million Mixed-Use Development in Khozam District
The planned community spans more than 228,000 m² with an investment value exceeding $879 million (SAR3.3 billion), contributing to the objectives of Saudi Arabia’s Vision 2030 Housing Program, which aims to increase homeownership to 70 percent by 2030 through public-private partnerships led by the NHC. The development aligns with Riyadh’s broader efforts to establish mixed-use, sustainable communities that enhance quality of life and social well-being.
