Azad Properties, a leading real estate developer in Saudi Arabia, has signed a Memorandum of Understanding (MoU) with the National Housing Company (NHC) to explore the development of a 700,000-square-meter commercial project in Khuzam suburb, northern Riyadh. This agreement aligns with Saudi Vision 2030, supporting economic diversification and fostering innovation in retail, real estate, and commercial infrastructure.
As part of the MoU, the focus is on allocating commercial land to Azad Properties, which is renowned for integrating sustainability, community-driven design, and modern retail concepts. Through this planned development, the project aims to attract global brands, local enterprises, and investors, thereby creating a vibrant business ecosystem that enhances Riyadh’s commercial landscape.
Highlighting the significance of this partnership, Ayman Mohammed Al Burti, CEO of Azad Properties, stated, “This partnership with NHC marks a pivotal step in Azad Properties’ expansion strategy. Our vision is to develop a world-class commercial destination that supports local businesses, attracts new investments, and redefines the retail experience.”
Building on its expertise, Azad Properties specialises in smart infrastructure, efficient property management, and retail-driven projects—fostering dynamic business environments. With a strong commitment to innovative commercial, lifestyle, and logistics developments, this collaboration represents a significant milestone in shaping Saudi Arabia’s commercial real estate sector while driving sustainable economic growth.
Furthermore, Azad remains dedicated to creating destinations that enhance everyday life, distinguishing itself through purpose-driven development. As the company continues to expand its footprint, it remains focused on contributing to a sustainable and promising future for the region, one project at a time.
Currently, with a robust portfolio of 12 properties across Saudi Arabia, Azad Properties is steadily growing its commercial and lifestyle developments, delivering long-term value to businesses, retailers, and investors. Looking ahead, and in alignment with Saudi Vision 2030—which emphasises a vibrant society, a thriving economy, and an ambitious nation—its partnership with NHC is set to further strengthen its market position in the coming years.
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