Riyadh, Saudi Arabia: Tatweer Company has announced the acquisition of a vast industrial plot in a prime location in the capital city of Riyadh. The land spans approximately 74,000 square meters and was purchased for over 750 million Saudi Riyals during the "Rikaz Auction," which saw extensive participation from elite businessmen and real estate investors.

The industrial land is situated in the Al-Rahmaniyah neighborhood along Al-Orouba Street, just 1 km away from the Kingdom Tower and about 3 km from the Al Faisaliah Tower.

The company will embark on a qualitative development journey, leveraging the latest global standards and technologies in construction and urban planning, aiming to achieve environmental balance and ensure the sustainability of future projects.

Hezam Bin Saidan, the Managing Director of Tatweer, stated, "We at Tatweer are proud of this achievement, which signifies the great trust the company enjoys in the real estate market in the Kingdom. It represents a significant expansion of our real estate portfolio and provides us with the opportunity to contribute to achieving the goals of Saudi Vision 2030 in enhancing the quality of life."


About Tatweer Company:

Tatweer is a pioneer in real estate development in the Kingdom and has developed several iconic communities across the country, such as “Laysen Valley, “Riyadh Front”, and “The Business Gate”, among others. Its aim is to add effective value to their society and partners, as well as contribute to achieving sustainable growth and enhancing the quality of life.