Tilal plans 3,000 units with SAR 3B investments in 4 Saudi cities: CEO

Tilal Real Estate Co. revealed plans to build 3,000 residential units in four Saudi cities with total investments of over SAR 3 billion, in coordination with National Housing Co. (NHC), CEO Abdulrahman AlBassam told Al-Eqtisadiah newspaper.

Tilal is in process of expanding its services from housing development and what is called sub-development to more comprehensive offerings under the term "master development." It has launched its first master development partnership project, Heart of Khobar (HOK), with a market value exceeding SAR 6 billion.

The real estate market in Saudi Arabia is promising and substantial, AlBassam added, explaining that the major market players owned by the Public Investment Fund (PIF) hold 400 million square meters. The market is promising and will grow gradually over the coming years.