RIKAZ has announced the launch of ZAYA, an affiliate dedicated to developing residential and commercial projects with a SAR 600 million investment.
The launch signifies RIKAZ’s commitment to expand in the Kingdom’s real estate market, addressing the growing needs of the housing and commercial sectors by delivering high-quality, modern projects designed with advanced infrastructure and innovative aesthetics.
RIKAZ ..A Vision to Provide Unique Living Experiences
ZAYA is set to redefine luxury and quality in the Saudi real estate market by creating projects that ensure a unique living experience for residents, combining modern design with luxury and comfort. The newly launched company aligns with RIKAZ’s goal to contribute to the Kingdom’s Vision 2030 by providing projects that fulfill citizens’ aspirations for modern, high-standard living spaces.
Five Landmark Projects Currently in Development
Currently, ZAYA has five major projects under development, including SKAYA, UPSCALA, and UPTOWN, as well as additional developments across Dhahran, Khobar, and Riyadh. These projects incorporate luxury residential units, commercial spaces, green areas, and advanced recreational facilities. To further elevate the lifestyle offered, AZAYA Beach Club, a private beach club for ZAYA clients, will offer residents an exclusive, upscale experience.
RIKAZ’s Expansion into Hospitality and Logistics Sectors
In line with its expansion plans, RIKAZ will venture into the hospitality industry by launching projects in Riyadh, Asir, Abha, and Al-Ahsa, covering an area of over 800,000 square meters and representing investments surpassing SAR 1 billion. RIKAZ has also entered the logistics sector with “The Node” project, an integrated logistics complex with a SAR 1.1 billion investment, aimed at supporting economic growth across sectors. With two phases already completed, The Node is anticipated to generate sales of SAR 1.5 billion.
Executive Statements on RIKAZ’s Strategic Vision and ZAYA’s Role
Chairman and CEO of RIKAZ, Khalid bin Hassan Al-Qahtani, expressed his pride in launching ZAYA, calling it a significant milestone in the company’s journey.
“ZAYA represents a critical step in our expansion strategy. It aligns with our long-term goals under the Kingdom’s Vision 2030, which serves as a guiding framework for all our projects. We aim to be a key partner in realizing the Kingdom’s aspirations by delivering projects that meet global standards and promote sustainable development.”
ZAYA CEO Khalid Al-Ward added, “The launch of ZAYA underscores our continuous efforts to diversify our investments across multiple real estate sectors, creating an opportunity for exceptional developments that cater to local and international market demands. By developing modern, integrated communities, we ensure well-being and prosperity for our residents.”
