JLL completes landmark sale of Antara Residential Compound in Riyadh, showcasing expertise in transactional excellence

The completion of this transaction marks one of the most significant residential real estate deals in Riyadh this year, reflecting JLL’s in-depth local market knowledge and its unparalleled expertise in facilitating complex transactions in the Kingdom’s dynamic market landscape.

As the exclusive sell-side advisor, JLL executed a targeted institutional marketing campaign that showcased this unique, sizeable investment opportunity to acquire a best-in-class residential compound. This generated substantial interest from numerous pre-qualified bidders through a highly competitive sales process. Such robust demand reflects the client’s development expertise and underscores the asset’s strategic value in Riyadh’s residential market, which faces a significant shortage of similar quality living options.

Designed as a Mediterranean-inspired resort with exceptional facilities and high-quality amenities, Antara Residential Compound offers 520 units comprising apartments, townhouses, and villas. The highly sought-after residential compound provides a range of in-house amenities, including F&B offerings, sports facilities, lush green spaces, and an extensive events calendar.

Fadi Moussalli, Senior Director, Capital markets MENA at JLL, said: “We are delighted to have successfully supported our client on this strategic transaction, which generated strong market interest and testifies to our client’s outstanding asset management capability. Leveraging our deep expertise and local market knowledge, we connected prominent investors, underscoring JLL's ability to orchestrate competitive sales processes in Saudi Arabia’s rapidly expanding residential market. The professionalism and integrity of the purchaser were instrumental in ensuring the smooth execution of this transaction and it was a pleasure to collaborate with our client's legal counsel, Hourani & Partners, on this market-shaping acquisition.

Saud Alsulaimani, Country Lead and Head of Capital Markets for Saudi Arabia at JLL, stated: "This transaction highlights the ongoing demand for quality, income-generating assets and the strength and resilience of Saudi Arabia's premium residential market. The trend towards prioritizing quality and the limited availability of prime assets are driving robust demand. The Kingdom’s Vision 2030 agenda has fostered an attractive long-term investment landscape, increasing interest in high-quality properties like the Antara Residential Compound. This successful transaction further reinforces JLL's position as a trusted advisor and partner in the Saudi real estate market."

Completed in 2022, Antara Residential Compound witnessed high and stabilized occupancy across a diverse tenant mix, with best-in-class, cost-efficient, and streamlined operations. The property is strategically located in Diriyah, between two of the city’s most exciting and significant giga-projects, with the New Murabba located to the North and the Diriyah Gate development to the South. The property also benefits from its strategic proximity to major city landmarks, such as the King Abdullah Financial District (KAFD), King Khalid International Airport, and Riyadh Downtown.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, whether investment, sales or equity advisory.