Business
Emaar The Economic City & Al Tahaluf Sign Deal to Deliver New Residential Projects in KAEC’s Al Murooj
Designed for elevated living, the new premium residential communities will offer buyers high-end villas on the Red Sea coastKING ABDULLAH ECONOMIC CITY (KAEC), Saudia Arabia, July 30, 2025 (GLOBE NEWSWIRE) -- Emaar, The Economic City (EEC), the master developer of King Abdullah Economic City (KAEC), has signed an agreement with Al Tahaluf, a Saudi-American joint venture comprised of a K. Hovnanian subsidiary and the Hamad bin Saedan Real Estate Company, to develop two premium residential communi
About this update from Emaar, The Economic City
[{"type":"text","content":"Designed for elevated living, the new premium residential communities will offer buyers high-end villas on the Red Sea coast","length":124,"tagName":"p"},{"type":"text","content":"KING ABDULLAH ECONOMIC CITY (KAEC), Saudia Arabia, July 30, 2025 (GLOBE NEWSWIRE) -- Emaar, The Economic City (EEC), the master developer of King Abdullah Economic City (KAEC), has signed an agreement with Al Tahaluf, a Saudi-American joint venture comprised of a K. Hovnanian subsidiary and the Hamad bin Saedan Real Estate Company, to develop two premium residential communities in the Al Murooj district. The deal reflects a shared ambition to shape a vibrant coastal district and supports KAEC’s goal of attracting high-value development while cementing its position as a lifestyle-led investment destination aligned with Vision 2030’s ambitions.","length":650,"tagName":"p"},{"type":"text","content":"Signed at KAEC by Abdulaziz Alnowaiser, CEO of EEC, and Robert Hofmann, CEO of Al Tahaluf, the agreement covers the acquisition of 340 residential lots, ranging from 600 m² to 1,000 m², with built up areas spanning 400 m² to 600 m². These exclusive communities are inspired by a tropical modernism design approach, introducing a signature architectural villa style to the Kingdom. The four-to-five-bedroom villas will offer resort-styled living with expansive glass façades, soaring ceilings, shaded terraces, lush tropical landscaping, and premium finishing. Open concept layouts will connect indoor and outdoor spaces, with gourmet kitchens and private two-car garages, including space for a golf buggy, to support sustainable mobility.","length":738,"tagName":"p"},{"type":"text","content":"The project is tailored for buyers looking to enjoy elevated living along the Red Sea coast, with interest expected to only rise following a recent decision by the Saudi Cabinet to allow foreign property ownership in designated zones starting 2026.","length":248,"tagName":"p"},{"type":"text","content":"Commenting on the signing, Abdulaziz Alnowaiser, CEO of EEC, said: “This agreement highlights KAEC’s continued evolution into a vibrant and future-ready city, offering high-quality residential, commercial, and leisure opportunities. We are delighted to partner with Al Tahaluf, whose presence signals strong investor interest in KAEC’s long-term potential as a destination of choice for...