Riyadh, Saudi Arabia — RIKAZ has announced the launch of ZAYA, a new affiliate company dedicated to developing residential and commercial real estate projects with investments totaling SAR 600 million. The launch of ZAYA reflects RIKAZ’s commitment to meeting the increasing demand in Saudi Arabia’s housing and commercial sectors by delivering projects that merge luxury with modern, sustainable living.
ZAYA’s vision centers on creating exceptional living experiences, utilizing cutting-edge infrastructure and innovative design to enhance project efficiency and meet market needs. The company aims to offer high-quality, luxury developments that align with the Kingdom’s Vision 2030 goals, which focus on fostering a prosperous and modern Saudi lifestyle.
Currently, ZAYA has five landmark projects underway, including SKAYA, UPSCALA, and UPTOWN, with developments spread across Dhahran, Khobar, and Riyadh. These projects combine residential and commercial spaces with green areas and recreational facilities. ZAYA will also introduce AZAYA Beach, an exclusive beach club that enhances the residential lifestyle experience for its customers.
Additionally, RIKAZ is expanding into the hospitality sector, planning major projects in Riyadh, Asir, Abha, and Al-Ahsa. These new developments cover over 800,000 square meters, representing an investment of over SAR 1 billion.
RIKAZ has also ventured into the logistics sector with the Node project, a SAR 1.1 billion investment creating the Kingdom’s largest integrated logistics service complex. The Node project addresses rising demand for quality logistics facilities and supports various economic sectors, with two phases already launched and projected sales exceeding SAR 1.5 billion.
Mr. Khalid bin Hassan Al-Qahtani, Chairman and CEO of RIKAZ, emphasized the significance of launching ZAYA, stating, “This launch marks a quantum leap in our journey to enhance our market presence. Our long-term plans align with the Kingdom’s Vision 2030, which serves as a guiding framework for our projects. We aim to be a key partner in achieving the Kingdom’s goals by delivering globally competitive, sustainable developments.”
Mr. Khalid Al-Ward, CEO of ZAYA, added, “The launch of ZAYA strengthens our position as a leader in modern real estate development, fostering integrated communities that support prosperity and well-being for all residents. Our projects are designed to meet both local and international standards, contributing to a thriving real estate sector in Saudi Arabia.”
With ZAYA, RIKAZ is strategically positioned to support the Kingdom’s vision of a modern, sustainable, and diverse economy through transformational real estate projects that meet the needs of the growing Saudi population and international investors.
