Saudi developer Rafal to launch retail, residential projects

Saudi-based Rafal Real Estate Development Company is planning to launch ‘The Last Exit,’ a retail project, in Riyadh, the company said in a press statement.

The project comprises restaurants, cafes, shops, libraries and other entertainment venues.

The developer will also unveil a residential project, ‘Alegria,’ within the Al Narjes area, in the last quarter of 2022, the statement said, adding that the development will house 114 villas and 126 apartments.

No construction timelines or project costs were given.

The company has a land bank of around 1.1 million square metres, the statement said, quoting CEO Elias Abousamra.