Al-Tahaluf and KAEC Unveil SR1.07 Billion 'Soleya' Residential Community in Saudi Arabia

Major Residential Development Launched in King Abdullah Economic City

Al-Tahaluf, a prominent Saudi-American joint venture, in collaboration with King Abdullah Economic City (KAEC), has officially unveiled 'Soleya', a new residential community valued at SR1.07 billion (approximately $285.3 million). The announcement, made at Cityscape Global, signifies a key development in KAEC's ongoing expansion as a hub for modern living in Saudi Arabia.

Soleya: A Vision for Modern Coastal Living

The 'Soleya' community is designed to elevate contemporary coastal living, featuring 340 villas that blend elegant architecture with practical layouts. The design philosophy is rooted in tropical modernism, incorporating natural textures, shaded terraces, and open spaces to foster a strong indoor-outdoor flow. The development offers various villa types, including Luz, Mar, and Sombra, each tailored to provide a modern coastal aesthetic with spacious layouts and premium finishes. Lot sizes within the community range from 679 to 1,480 square meters, providing ample space for greenery and privacy.

Residents of Soleya will benefit from landscaped parks and shared spaces, co-designed by KAEC and Al-Tahaluf to enhance walkability and family leisure. The community's strategic location offers close proximity to leading KAEC destinations, including the Royal Greens Golf and Country Club, and convenient access to the Haramain High Speed Rail.

Collaboration Driving KAEC's Growth

Al-Tahaluf is a joint venture formed by a subsidiary of Hovnanian Enterprises from the USA and the Hamad bin Saedan Real Estate Company from Saudi Arabia. The company, founded in 2011 and headquartered in Riyadh, brings over 150 years of combined heritage in housing and land development, having delivered more than 300,000 homes worldwide and developed over 120 square kilometers across Saudi Arabia.

King Abdullah Economic City (KAEC), the master developer of which is Emaar, The Economic City, is a large-scale urban development initiated in 2005. Located approximately 100 kilometers north of Jeddah on the Red Sea coast, KAEC aims to diversify Saudi Arabia's economy and support the nation's Vision 2030. It comprises six integrated zones, including a seaport, industrial zone, and various residential areas.

Strategic Importance and Future Outlook

The launch of Soleya underscores KAEC's growing appeal as a destination that integrates contemporary design, natural surroundings, and diverse lifestyle experiences. Abdulaziz AlNowaiser, CEO of Emaar, The Economic City, stated, 'Soleya represents the next chapter in KAEC's growth as we introduce communities designed around quality of life, contemporary design, and the expectations of a modern city.' He added that the project reflects KAEC's ambition to create a destination where people can live, relax, and enjoy.

Robert Hofmann, CEO of Al-Tahaluf, commented on the project's inspiration, saying, 'Soleya is inspired by the way families want to live today. The design emphasizes comfort, privacy, and a seamless connection to outdoor spaces.' He highlighted that the collaboration with KAEC allows for the fusion of international expertise with a remarkable location, resulting in a community that prioritizes everyday well-being. This development further strengthens KAEC's position as a burgeoning hub for modern living, tourism, and investment, reflecting continued private sector confidence in the city's long-term vision.