Saudi-American developer Al Tahaluf, a joint venture between Hamad bin Saedan Real Estate Company and a subsidiary of NYSE-listed Hovnanian Enterprises, has launched Soleya, a 1.07 billion Saudi riyals ($285 million) coastal residential project at King Abdullah Economic City (KAEC).

The announcement was made at Cityscape Global, Al Tahaluf said in a press statement.

Located near the Haramain High-Speed Railway station, Soleya will comprise 340 villas and incorporate landscaped parks, green corridors and shared community spaces aimed at supporting modern coastal living, the statement added.

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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