Bahrain-based Seef Properties and Saudi Arabia’s AWJ Real Estate have signed a Memorandum of Understanding (MoU) to develop a mixed-use project within the Al Rabwa development in Riyadh, a flagship project by AWJ Real Estate.
The project, spanning 160,540 square meters, will include family entertainment centers, restaurants and cafés, office spaces, and residential units, all developed with a focus on sustainability.
Under the agreement, Seef Properties will take the role of developer and strategic partner. Both parties will work together on planning, designing, and executing the project, paving the way for a long-term strategic partnership.
“The Saudi market presents substantial opportunities with its continued growth and dynamic landscape, making it a promising environment for value-added real estate developments. This agreement marks a pivotal step in our regional expansion strategy. We are committed to delivering a distinguished project that leverages our proven track record in developing and managing commercial and entertainment destinations, aligns with the evolving needs of the Saudi market, and contributes to Riyadh’s urban development.”
Abdulaziz Al Mosa, CEO of AWJ Holding, added that, “We are pleased to welcome a leading Gulf-based company like Seef Properties into the Saudi market through this landmark initiative — a step that reflects growing investor confidence in the Kingdom’s business environment. The project is situated within Al Rabwa, a development that has already delivered over 3,000 residential units in earlier phases through partnerships with prominent Saudi developers. The upcoming phases are set to deliver more than 7,000 additional and diverse residential units. The project will be a strategic addition to a growing portfolio of developments in Al Rabwa, including the previously announced ‘Al Rabwa Boulevard,’ the ‘7’ entertainment project by SEVEN, and other high-impact developments to be unveiled soon.”
Seef Properties specializes in the development and management of a diversified real estate portfolio across multiple sectors such as retail, entertainment, and hospitality sectors. Some of the flagship projects include the Seef Malls, Al Liwan, Fraser Suites and Seef Entertainment.
