Real Estate Saudi developer to build $400m ‘workshop city’ By Nadim Kawach May 30, 2025, 2:53 PM Alamy Real estate developer Ayman Al-Burti's Azad Properties plans to build a $400 million workshop and warehouse development in Riyadh Hopes to attract 400 companies First phase due in 2027 Bank financing under way A Saudi developer is planning to borrow SAR1.5 billion ($400 million) from banks to fund a workshop and warehousing development in Riyadh. Azad Properties plans to build ‘Bawabat Al-Senaya’, which means industrial gate, and aims to attract around 400 companies. Its CEO Ayman Al-Burti told CNBC Arabia TV news that the scheme would be launched this year. “Work is under way to finish the designs of this project, which will be launched in the fourth quarter. We expect [the first] phase to be completed in the first quarter of 2027,” Al-Burti said. “The project will cost around SAR1.5 billion, 60 percent of which will be funded through loans from banks. We have already made initial agreements with some banks which had expressed interest in the project,” he said. Saudi real estate licences increased by half in 2024 Saudi housing changes may stoke demand for smaller properties $1bn investment to advance Saudi Arabia’s logistics ambitions Al-Burti said the development targets all sizes of companies from various sectors, adding that he expects more than 400 local and global firms to be located there. He said his company would sign agreements with the Ports Authority of Saudi Arabia and other public institutions to establish operations at the new development. “It will house numerous warehouses, workshops and commercial showrooms. The area is characterised by its easy accessibility, given its proximity to Riyadh,” the company said in a statement. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
