New signature tower to grace Riyadh skyline, as Knight Frank seals partnership deal with Abdullah Mohammed Al Rajhi Holding

A new landmark luxury development that promises to be among the three tallest towers in Riyadh has taken a step forward with the signing of a partnership agreement between Knight Frank and developer Abdullah Al Rajhi Holding. 

Some of the top signature architects from around the world are competing to deliver the full design for the Tower, which will comprise 65% residential units plus a boutique hotel. Situated close to the Avenues Shopping Metropolis, the developers are aiming to set a new standard for luxury living in the city with a project that perfectly aligns with the government’s 2030 Vision. 

Susan Amawi, General Manager, Knight Frank KSA outlined: "This partnership marks a bold step in shaping Riyadh’s next-generation skyline, aligning global design excellence with Vision 2030 ambitions." 

Knight Frank will be supporting delivery as PMO throughout the project lifecycle. The development will incorporate the latest innovations to ensure the highest quality and impressive environmental credentials, targeting LEED Gold certification or higher. 

The Tower is the first of three projects that Knight Frank will be supporting as DRE looks to grow its portfolio. It will be followed by another high-rise residential tower and a low to mid-rise residential, hotel and retail destination in Riyadh with more than 1,000 homes. 

Mohamad Nabil, Regional Partner – Head of Project & Development Services, Knight Frank MENA mentioned: “I’m incredibly proud of Knight Frank KSA’s P&DS team led by Ian Sinclair for securing this PMO agreement with Abdullah Al Rajhi Holding, marking a significant milestone in our continued growth in the Kingdom. Our Riyadh-based team will lead the delivery of the iconic Tower—set to become Riyadh’s tallest tower—alongside two other landmark developments to be announced soon. We’re honoured to collaborate over the next three years with Abdullah Al Rajhi Holding, WSP, and several world-renowned design firms to bring this visionary project to life and play a role in shaping Riyadh’s evolving skyline.” 

Ahmed Alalwan, CEO of Abdullah Al Rajhi Holding, said: “At Abdullah Al Rajhi Holding, we are proud to play a leading role in shaping the future of Riyadh’s skyline in alignment with Saudi Vision 2030. The Tower is more than just a development—it is a statement of luxury, innovation, and ambition. Designed to set new benchmarks for ultra-premium urban living, the tower will redefine what it means to live in one of the most sought-after addresses in the region. This project reflects our commitment to creating world-class assets that deliver enduring value for residents, investors, and the city alike.”