24 Hrs
Source:
الاقتصادية
Blacksand to invest 25B Riyals by 2027
Blacksand Real Estate, part of Alabdullatif Holding Group, plans to unveil its largest project in its portfolio in 2027, with a cost reaching up to 25 billion riyals. The first phase of the project is valued at 7 billion riyals. The project focuses on the development of multiple real estate and tourism ventures, including hotels, residential complexes, and infrastructure projects. This comes as part of the company's five-year strategic investment plan with a total value of approximately 40 billion riyals. Additionally, the company plans to develop 22 infrastructure projects worth 15 billion riyals, along with industrial and commercial projects valued at 7 billion riyals. The financing arrangements are designed to enhance the company's capacity to carry out these substantial investments, with expectations of gradually opening some of its hotels between 2027 and 2030.
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