Saudi Arabia: sarcc acquires Al Nakhla Residential Resort for $668mn
Smart Accommodation for Residential Complexes Company (sarcc), a PIF Company, has achieved a significant milestone in its journey with the successful acquisition of the prominent Al Nakhla Residential Resort in Riyadh for $668 million (SAR 2.5 billion).
This pivotal deal reflects sarcc’s alignment with PIF’s broader strategy, which directly supports Vision 2030. Through this move, sarcc is transforming employee accommodation in Saudi Arabia and reaffirming its mission to transform living spaces into innovative, world-class communities that foster professional success and enhance well-being.
Following the acquisition, sarcc has entered into a comprehensive resort management agreement with Al Nakhla Investment to ensure continued operational excellence in leasing, marketing, and maintenance.
Ready to be part of KSA's remarkable journey? Connect with us at partners@novarabia.com.
