Saudi Firm Unveils $1.6bn Smart City Project in Khobar

Saudi firm Tilal Real Estates unveils a $1.6 billion smart city project, set to transform Khobar with modern living, business, and entertainment spaces

November 13, 2024 Saudi Arabia Real Estate

Saudi Firm Unveils $1.6bn Smart City Project in Khobar

A Saudi company has announced the launch of a significant new project, set to create a smart city in the Kingdom’s eastern region, valued at approximately 6 billion Saudi riyals ($1.6 billion).

Tilal Real Estates revealed the plans during the Citiscape exhibition in Riyadh, outlining the development of the multi-purpose ‘Heart of Khobar’ project, which will span an area of around 268,000 square metres in the bustling eastern port city of Khobar.

The ambitious project will include a mix of residential units, offices, hotels, parks, roads, shopping malls, cinemas, and a range of other entertainment facilities. According to a statement released to Zawya Projects, the development will feature 250 hotel rooms and provide 3,900 parking spaces across 14 distinct sectors. These will encompass various areas such as residential, business, leisure, and retail spaces.

The project is set to be completed in three phases over the next four years, with Tilal Real Estates CEO, Abdul Rahman Al-Bassam, highlighting its potential to elevate Khobar’s status as an attractive destination for both living and investment.

“The Heart of Khobar project represents a strategic move towards the future of smart, integrated cities in the Kingdom, aiming to enhance the quality of life for residents and visitors alike,” Al-Bassam said. While specific details on the number of housing units or the city’s capacity have yet to be disclosed, the development is expected to significantly transform the region.

Khobar smart city Tilal Real Estate Vision 2030

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