ZOOD Real Estate launches Élevée, a $667 million project in north Riyadh
ZOOD Real Estate, a Saudi developer, has announced the launch of Élevée, a $667 million mixed-use real estate project located in northern Riyadh, approximately 1.5 kilometers from the King Abdullah Financial District. The development includes eight towers featuring residential units, hotels, serviced apartments, office spaces, and retail areas, covering a total built-up area of 254,340 square meters. The project emphasizes sustainability with over 40% of the site designated as open space and landscaping. Scheduled for completion by the end of 2029, Élevée aims to meet growing demand for housing and commercial spaces in Riyadh, which is expected to see its population rise to 9.6 million by 2030. The project has already received recognition at the Saudi Arabia Property Awards in 2024–25.
In September, the number of planned housing units dropped by 37% compared to the same period last year, indicating a notable slowdown in new housing developments. This decline may point to broader economic or regulatory issues influencing the construction industry, potentially reflecting lower demand, financial limitations, or shifts in policy affecting real estate. In contrast to this downturn, ZOOD Real Estate, a prominent Saudi developer, announced the launch of Élevée, a $667 million mixed-use project in north Riyadh. Located approximately 1.5 kilometers from the King Abdullah Financial District, the development includes eight towers, three residential with 1,779 apartments, two dedicated to hotels and serviced apartments, and three for office spaces. Additional components include retail areas within two of the buildings. The project spans 73,892 square meters, with over 40% designated for open space and landscaping. Construction is slated for completion by the end of 2029. The project received recognition at the Saudi Arabia Property Awards during the 2024-25 cycle, winning in both architecture and development categories. ZOOD Real Estate, headquartered in Riyadh, has completed 28 projects and currently manages a portfolio valued at 34 billion riyals, with 24 billion riyals under active development across several regions in Saudi Arabia. Meanwhile, in Slovenia, the trend of declining housing plans contrasts sharply with growing interest in homes featuring gardens, as highlighted by recent reports. Slovenian families increasingly seek properties with outdoor spaces, suggesting shifting preferences in housing demands despite the overall decrease in planned units elsewhere. ZOOD Real Estate’s strategic partner for the Élevée project is Jadwa Investment, while the architectural design was handled by Elia, an acclaimed firm based in Barcelona. The design incorporates traditional Najdi elements such as shaded areas and filtered light, blending them with modern architectural principles. The project aligns with the anticipated growth of Riyadh’s population, projected to reach 9.6 million by 2030, driven largely by the concentration of regional headquarters in the city.
The article reports that in September, there was a 37% decrease in planned housing units compared to the same period last year. This suggests a significant drop in new housing developments, which could indicate broader economic or policy-related challenges affecting construction activity. The decline might reflect reduced demand, financial constraints, or changes in government regulations impacting the real estate sector. Such a reduction could have implications for housing availability and related industries.
Bias read (Center): The headline presents a factual statistic without apparent ideological framing or emphasis on specific political actors or policies. There is no indication of biased language, selective context, or one-sided sourcing. The information provided is purely numerical and descriptive, making it difficult,
ZOOD Real Estate, a Saudi developer, has announced the launch of Élevée, a $667 million mixed-use real estate project located in northern Riyadh, approximately 1.5 kilometers from the King Abdullah Financial District. The development includes eight towers featuring residential units, hotels, serviced apartments, office spaces, and retail areas, covering a total built-up area of 254,340 square meters. The project emphasizes sustainability with over 40% of the site designated as open space and landscaping. Scheduled for completion by the end of 2029, Élevée aims to meet growing demand for housing and commercial spaces in Riyadh, which is expected to see its population rise to 9.6 million by 2030. The project has already received recognition at the Saudi Arabia Property Awards in 2024–25.
Bias read (Center): The article focuses on a real estate development project in Saudi Arabia, discussing its economic impact, scale, and features. There is no explicit political framing, ideological emphasis, or biased language. The content remains descriptive and factual, focusing on the project’s specifications, cost
The article discusses the increasing demand for homes with gardens among Slovenian families, highlighting how such properties are becoming more desirable and expensive. It notes that this trend reflects broader changes in housing preferences, possibly influenced by lifestyle shifts or economic factors. The piece does not provide specific data but emphasizes the growing interest in suburban or rural living options. No concrete figures or expert opinions are included in the provided excerpt.
Bias read (Center): The article focuses on a general housing market trend without taking a clear stance or emphasizing any particular political viewpoint. It lacks explicit ideological framing, loaded language, or one-sided sourcing.
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