Saudi-American real estate developer Al Tahaluf has unveiled Soleya, a major coastal villa project worth 1.07 billion Saudi riyals, or about $285 million, in King Abdullah Economic City. The launch happened at Cityscape Global, marking a key step in boosting modern living along the Red Sea coast.
Project Details and Features
This new residential community will feature 340 villas designed for family life and leisure. Soleya sits on prime land near the Haramain High-Speed Railway station, making it easy for residents to travel to cities like Jeddah and Mecca.
The villas come in three types: Loz, Mar, and Sombra, with land sizes ranging from 679 to 1,480 square meters. Each home offers built-up areas between 400 and 600 square meters, blending comfort with coastal views.
Developers plan to include landscaped parks, green corridors, and shared spaces. Some areas will be co-designed by Al Tahaluf and KAEC teams to promote walkability and community events.
Here are the main villa types and their key specs:
- Loz Villas: Smaller lots starting at 679 square meters, ideal for compact family setups with private gardens.
- Mar Villas: Mid-range options up to 1,000 square meters, featuring open layouts for indoor-outdoor living.
- Sombra Villas: Largest at 1,480 square meters, with premium finishes and space for custom additions like pools.
Partnership and Investment Background
Al Tahaluf is a joint venture between Hamad bin Saedan Real Estate Company from Saudi Arabia and a subsidiary of Hovnanian Enterprises, a New York Stock Exchange-listed builder from the United States. This partnership brings together local knowledge and global expertise in home construction.
The project aligns with Saudi Arabia’s Vision 2030 goals to grow tourism and housing. KAEC, located north of Jeddah, spans 185 million square meters and already hosts business hubs, resorts, and visitor spots.
Investment in Soleya totals over a billion riyals, with funds aimed at high-quality builds and eco-friendly designs. Recent reports show rising demand for coastal properties in the region, driven by economic growth and new infrastructure like high-speed rail links.
This launch follows other KAEC deals, such as a 103.7 million riyal agreement with Mayan Real Estate for another villa community called Luminos Gardens. That project covers 114,000 square meters and adds to the city’s premium housing options.
Location Benefits and Community Impact
King Abdullah Economic City offers a strategic spot on the Red Sea, with access to beaches, marinas, and entertainment zones. Soleya’s position enhances this by creating a welcoming neighborhood focused on family and leisure.
Residents will enjoy nearby amenities like retail areas, cafes, and recreational facilities. The design emphasizes sustainability, with green spaces that support local wildlife and reduce urban heat.
To highlight the advantages, consider this table of key location perks:
| Feature | Benefit | Impact on Residents |
|---|---|---|
| Proximity to Rail | Quick trips to major cities | Easier commuting and travel |
| Coastal Access | Direct views and beach activities | Improved quality of life |
| Community Parks | Spaces for events and relaxation | Stronger social bonds |
| Eco-Friendly Design | Lower energy use and green corridors | Healthier, sustainable living |
These elements make Soleya appealing for families and investors looking for long-term value.
Market Trends and Future Outlook
Real estate in Saudi Arabia is booming, with projects like Soleya tapping into demand for luxury coastal homes. Data from recent market analyses show a 15 percent rise in residential investments along the Red Sea in the past year, fueled by international interest.
Experts predict that developments in KAEC could attract more foreign buyers, especially with events like Cityscape Global showcasing opportunities. This project might set a trend for similar ventures, blending American building standards with Saudi cultural touches.
Looking ahead, Al Tahaluf plans to start construction soon, with first villas ready by late 2026. This timeline fits broader efforts to diversify the economy beyond oil.
Economic and Broader Implications
The Soleya project creates jobs in construction and related fields, supporting local workers. It also boosts tourism by adding high-end housing near attractions.
In a wider sense, such initiatives strengthen Saudi Arabia’s position as a hub for modern living. With global partners like Hovnanian, the country gains from advanced techniques in sustainable development.
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