Gulf Related, a leading real estate developer, has announced the official launch of Antara, a landmark SR1 billion ($266 million) residential community development located in the prestigious Diriyah area in North Western Riyadh. 

 

Gulf Related is a joint venture between UAE-based Gulf Capital, one of the largest investment firms in the GCC, and Related Companies, the most prominent privately-owned real estate firm in the US.

 

Comprising 520 units, Antara offers a wide range of carefully crafted villas, contemporary townhouses, and modern apartments that can satisfy the preferences of individuals, couples and families with children, said the developer.  

 

Gulf Related pointed out that it has designed Antara in a manner that blends harmoniously with its historic surrounding environment. 

 

The overall vision for this cultural landmark location was safeguarded and successfully implemented in the design of the completed development, it added. 

 

Dr Karim El Solh, co-Managing Partner of Gulf Related and Gulf Capital CEO, said: "Antara is a high-end, sophisticated, and family-friendly residential resort in the heart of historic Riyadh. We are privileged to be part of the Diriyah community of developers who are contributing to and revitalising an area of high cultural and historic significance."

 

"Gulf Related’s SR1 billion investment in Antara highlights our belief in the promising residential real estate sector in Riyadh and the long-term growth prospects of the kingdom," remarked El Solh. 

 

"This development is Gulf Capital’s sixth major investment in Saudi Arabia and represents our commitment to supporting the Kingdom’s 2030 vision of achieving far-reaching economic prosperity and supporting the growth of the real estate sector as a key pillar of the economy," he added.

 

Diriyah Gate Development Authority CEO Jerry Inzerillo said: "We are very pleased that a global real estate developer of the stature of Gulf Related has decided to invest in the Diriyah area, and to launch a high-end residential project within our 190 sq km catchment zone."

 

"We wish them every success with their residential compound development and hope it will attract the international standing and future acclaim that it deserves," he added.

 

Kenneth Himmel, co-Managing Partner of Gulf Related and CEO of Related Urban, said: "Antara was designed at the highest international standards to create a unique and sophisticated residential experience catering to both long-term and short-term stays."

 

"Antara is strategically located in the prestigious Diriyah area, and we were keen to ensure that the unique and historic settings were incorporated into its urban planning, design, and architecture," noted Himmel.

 

"Antara has already attracted considerable interest ahead of its official inauguration, with immediate leasing commitment of over 100 units. Despite challenging times for global and regional economies, the completion and opening of Antara comes at a time of renewed investments in landmark real estate projects in Saudi Arabia," he added.-TradeArabia News Service