What makes a real estate project stand out in a growing city like Riyadh? ZOOD Real Estate has a big plan with Élevée, a $667 million development bringing everything together. 

ZOOD Real Estate has announced a new $667 million project in Riyadh, Saudi Arabia, bringing apartments, offices, hotels, shops and green spaces together in one place. Called Élevée, the project will be built in the Al-Nakheel district, close to Riyadh’s financial centre. With eight towers and facilities for residents, visitors and businesses, the development is expected to be completed by the end of 2029.

Élevée Brings Homes, Offices and Hotels Together

The project carries an investment value of more than SAR 2.5 billion and covers a site of 73,892 square metres, with a total built-up area of 254,340 square metres. Its eight towers will include three residential buildings with 1,779 apartments, two hospitality towers featuring a hotel and serviced apartments, and three office towers. Two additional standalone buildings will provide retail space.

More than 40% of the site will be dedicated to open spaces and landscaping. Plans include a central park, planted areas between buildings, a rooftop garden and wide pedestrian walkways.

What Will Make This Development Different?

Élevée is designed to offer more than traditional residential and commercial properties. Facilities across the development will include a nursery, children's club, business lounge, swimming pools, cafés, restaurants and a fitness club. Reception services and 24-hour security will also be available, with amenities varying between buildings.

Barcelona-based architecture firm Elia led the design, drawing inspiration from traditional Najdi architecture. The approach focuses on shade, filtered natural light and a gradual transition from shared public areas to private living spaces.

Yasser Al-Qazlan, CEO of ZOOD Real Estate, explained the company's approach: “We do not want to build only. We want to create places where people feel at home, places that respect their privacy and bring together our Saudi identity and a contemporary architectural language.”

Why Is Riyadh Attracting More Real Estate Investment?

The increase in business in Riyadh means there will be a need for housing, office spaces and other facilities. According to the data released in 2024 by the Ministry of Investment of Saudi Arabia, about 90% of the regional headquarters registered in the country have opted for Riyadh.

According to Knight Frank's 2024 report, Riyadh's population is expected to increase from 7 million in 2022 to 9.6 million in 2030. This increase in population is adding to the interest for areas surrounding business centers.

Élevée sits around 1.5 kilometres from KAFD and benefits from access to the Northern Ring Road, which connects the area with the financial district and King Khalid International Airport.

What’s Next for ZOOD Real Estate?

ZOOD says it has delivered 28 projects and manages a portfolio valued at SAR 34 billion, including SAR 24 billion in developments under construction or development across Riyadh, Qassim and Makkah.

As Business Fortune observes, Élevée could become an important addition to Riyadh's changing urban landscape. Its progress toward the 2029 completion target will show how well integrated developments can respond to the city's growing housing, business and lifestyle needs.

Sources: https://www.taiwannews.com.tw/news/6460643 https://saudigazette.com.sa/article/665237/business/new-disney-app-officially-launched-in-saudi-arabia https://www.zawya.com/en/press-release/asia-press-releases/zood-real-estate-launches-elevee-a-667-million-project-in-north-riyadh-1746131