RIYADH: Rafal Real Estate Development Co, a Saudi developer, plans to advance its expansion strategy, with investments in Riyadh reaching about SR6.5 billion ($1.73 billion) by 2025.
The company aims to strengthen its presence outside the capital starting next year, Elias Abuo Samra, CEO of Rafal, told Al Eqtisadiah in an exclusive interview.
Abuo Samra said the firm has begun investing in the hospitality sector through a partnership with the hotel brand Rove to develop four new hotel projects ready to serve Expo Riyadh 2030.
He added that the company is also presenting a $1 billion initiative to “tokenize” a real estate portfolio, aimed at bringing small investors into the sector, underscoring that the undeveloped land fee decision has had a significant positive impact by increasing development opportunities and reducing market monopolies.
How much has Rafal invested in Saudi Arabia to date?
