A SR1-billion ($266m) residential 'resort' Antara opens in Riyadh

Dubai: A 1-billion Saudi riyal super-premium residential community has opened in Riyadh, featuring 520 homes. The project is from Gulf Related, which is currently working on one of the most prestigious retail and entertainment destination in Abu Dhabi - The Galleria Al Maryah Island.

The Saudi development, Antara, is in the upscale Diriyah area in north-western Riyadh. The developer is billing it as a “residential resort”.

“Gulf Related’s 1 billion riyal investment in Antara highlights our belief in the promising residential real estate sector in Riyadh and the long-term prospects of the Kingdom,” said Dr. Karim El Solh, co-Managing Partner of Gulf Related and CEO of Gulf Capital.

“This development is Gulf Capital’s sixth major investment in Saudi Arabia and represents our commitment to supporting the Kingdom’s 2030 vision of achieving far-reaching economic prosperity and supporting the growth of the real estate sector as a key pillar of the economy.”

Gulf Related is a joint venture between Gulf Capital and Related Companies of the US.