Gulf Read real estate development company announced the official opening of the new Antara residential project in the prestigious Dir’iyah area northwest of Riyadh.
Antara comprises of 520 units, offers villas, homes, and apartments, and represents a SAR 1 billion ($ 266 million) investment by the developer.
Gulf Related is a partnership between UAE-based Gulf Capital and Related Companies, a privately owned real estate company in the United States.
Dr. Karim El Solh, the co-managing partner of Gulf Related and CEO of Gulf Capital, said that Antara is a high-end, sophisticated, and family-friendly residential resort in the heart of historic Riyadh.
They are privileged to be part of the Diriyah community of developers who are contributing to and revitalizing an area of high cultural and historic significance.
Also, he added that Gulf Related’s investment in Antara highlights the company’s belief in the promising residential real estate sector in Riyadh and the long-term growth prospects of the kingdom.
The development is Gulf Capital’s sixth major investment in Saudi Arabia.
Jerry Inzerillo, CEO of Diriyah Gate Development Authority, said that they are very pleased that a global real estate developer of the stature of Gulf Related has decided to invest in the Diriyah area, and to launch a high-end residential project within our 190 sq km catchment zone.
Kenneth Himmel, the co-managing partner of Gulf Related and CEO, Related Urban, said Antara has already attracted considerable interest ahead of its official inauguration, with an immediate leasing commitment of over 100 units.
Despite challenging times for global and regional economies, the completion and opening of Antara come at a time of renewed investments in landmark real estate projects in Saudi Arabia.
Antara also offers a resort-style living experience including a large fitness and wellness center, terrace restaurants, and poolside cafes, all overlooking five interconnected pools.
The resort is also launching the Village Inn, a ready-made temporary stay solution for those who wish to experience hotel life in a secure residential community.