Saudi-based Raj Real Estate company, a subsidiary of Al-Rajhi United, and Baseel property company, have announced plans to develop a SR1.2-billion ($320 million) shopping complex – The Riyadh Walk.
The project, which comprises an office, shopping and dining complex, will be built on an estimated area of 137,000 sq m with a 650-m façade, reported the Arab News.
To be located on the northern ring road of capital Riyadh, the lifestyle centre will be similar to The Grove in Los Angeles, US, and provide an open-air mall experience.
Waleed bin Saad Al Haza, the CEO of Raj Real Estate, commented: “In addition to its real estate value and its vital location in the north of the capital, this project is a valuable addition to the retail, offices and hospitality markets, offering a harmonious balance of commercial markets, restaurants and cafes with global and regional excellence, all under one roof.”
“The project will include a boutique hotel, offices, luxurious recreational and cultural areas, and pedestrian areas,” he added.