Premier residential development draws significant investor interest.
JLL Capital Markets has successfully advised a leading Saudi Arabian fund in the sale of Antara Residential Compound, a top-tier expatriate-focused residential community located in Diriyah, North Riyadh. This sale is among the most notable residential real estate transactions in Riyadh this year and underscores JLL’s deep understanding of the local market, as well as its unparalleled ability to manage intricate deals in the Kingdom’s evolving property landscape.
As the exclusive sell-side advisor, JLL orchestrated a targeted institutional marketing campaign that highlighted the unique, large-scale investment opportunity. This campaign attracted considerable attention from a range of pre-qualified bidders, culminating in a highly competitive sales process. The robust demand reflects the strategic value of the property and its significance within Riyadh’s residential market, which faces a shortage of similarly high-quality living options.
Exceptional Mediterranean-Inspired Resort Compound
Designed to resemble a Mediterranean resort, Antara Residential Compound features 520 units, including apartments, townhouses, and villas. The development boasts an array of premium amenities, such as food and beverage options, sports facilities, lush green spaces, and a packed events calendar. Its high-end offerings make it a highly desirable residence for expatriates and affluent individuals in Riyadh.
Fadi Moussalli, Senior Director of Capital Markets for MENA at JLL, stated: “We are thrilled to have supported our client in this strategic transaction, which garnered significant market interest. This deal showcases our client’s exceptional asset management skills and highlights JLL’s ability to connect prominent investors through an efficient sales process. The professionalism and integrity of the buyer were key to the smooth execution of this deal. We are proud to have worked alongside our client’s legal team, Hourani & Partners, on this pivotal acquisition.”
Strategic Location Near Riyadh’s Key Developments
Saud Alsulaimani, Country Lead and Head of Capital Markets for Saudi Arabia at JLL, added: “This transaction emphasizes the ongoing demand for premium, income-generating properties in Saudi Arabia. With limited availability of high-end assets and the Kingdom’s Vision 2030 agenda, quality properties like Antara are becoming increasingly attractive to investors. This successful sale reinforces JLL’s reputation as a trusted advisor in Saudi Arabia’s thriving real estate market.”
Completed in 2022, Antara Residential Compound maintains high occupancy rates, with a diversified tenant mix and efficient, streamlined operations. The property is strategically situated in Diriyah, a rapidly developing area surrounded by two of Riyadh’s most ambitious giga-projects: the New Murabba to the North and Diriyah Gate to the South. Its proximity to key landmarks, including the King Abdullah Financial District (KAFD), King Khalid International Airport, and Riyadh Downtown, further elevates its appeal.
JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers. With extensive local and international market knowledge, JLL offers clients the best-in-class solutions, from investment and sales to equity advisory.
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