Al Akaria Signs SR1.2 Billion Lease Deal for Amsa Vue Residential Compound in Riyadh

Riyadh: Saudi Real Estate Co. (Al Akaria) has signed a long-term lease agreement with Amsa Hospitality for the Amsa Vue Residential Compound in Riyadh, a project valued at approximately SR1.2 billion (about $320 million). The agreement spans 20 years, highlighting the scale of investment and its focus on sustained value, operational quality, and long-term returns.

Located in the Diplomatic Quarters, the development will cover around 40,000 square meters and feature 240 residential units, including 176 apartments as well as 64 villas and townhouses designed to meet modern living standards.

Al Akaria’s Acting CEO Khalid Al-Sehaibany said the project reflects the company’s strategy of building integrated residential communities with high-quality planning and comprehensive amenities to enhance living standards in the capital.

Amsa Hospitality CEO Muin Serhan described the development as centred on both individual comfort and community values, adding that it aligns with the company’s broader goal of reshaping hospitality services in Saudi Arabia by incorporating authentic Arabian hospitality into residential environments.

He noted that the company aims to become a preferred partner for developers seeking to integrate hospitality-driven services into real estate projects. According to Serhan, the project is being developed through close collaboration with designers and contractors to ensure the final outcome reflects the local identity and delivers long-term value for stakeholders.