Alargan Project Company, in partnership with South Korea’s GS REDC, has officially announced the launch of Oasis Residences, the first Saudi-Korean residential development in Saudi Arabia. The announcement was made during the project’s sales launch ceremony in Riyadh, highlighting a milestone in Saudi Arabia’s evolving housing sector and the growing role of international cooperation in the local market.
The launch represents a new model of international cooperation in Saudi Arabia’s housing sector and reflects the combined strength of Alargan’s local market expertise and GS REDC’s international housing development experience in providing homes tailored to the evolving needs of Saudi families.
Alargan’s development vision strengthened through global partnerships
Oasis Residences is located on Al Thumama Road in the north of Riyadh and consists of 182 modern semi-furnished residential apartments designed according to contemporary urban concepts, offering units of various sizes priced from SR787,000.
The development features extensive green space and fully integrated facilities including a fitness centre, resident lounge, children’s play area, cafe, private underground parking and community facilities. Special emphasis is placed on construction quality, with up to a 10-year structural warranty reflecting our long-term commitment to durability, quality and sustainability.
On this occasion, Mr. Eyad Albanian, CEO of Alargan Projects Company Eng., emphasized that the launch of the Oasis Residences sales event is an important milestone in the company’s journey, noting that this partnership is a meaningful addition to Alargan’s project portfolio.
He said, “We are proud to launch the first day sales of Oasis Residences, the first Saudi-Korean residential project in Saudi Arabia. This project reflects Alargan’s strategy to develop integrated communities that improve the quality of life. Our partnership with GS REDC has allowed us to incorporate international residential development expertise tailored to the Saudi market, setting a new standard for modern living.”
Phase 2 of Oasis Residences is underway
Building on the success of the first phase, Alargan Project Company and GS REDC have begun construction of the second phase of Oasis Residences, which will provide an additional 248 residential units. The second phase follows the same development philosophy as the initial project, while meeting the growing demand for high-quality apartment living in northern Riyadh.
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By combining both phases, Oasis Residences is expected to emerge as a prominent residential community contributing to the diversification and modernization of the city’s housing supply.
Expanding role of GS REDC in Saudi Arabia’s housing sector
GS REDC is the wholly owned real estate development arm of GS Engineering & Construction (GS E&C), a global construction group with over 50 years of residential development experience in South Korea, bringing international planning and development expertise to the partnership.
Working closely with Alargan, the company leveraged this experience to deliver a project tailored to the Saudi market, while bringing sophisticated touches of Korean home design and lifestyle to Riyadh.
Besides Oasis Residences, GS REDC is also participating in a residential development of approximately 2,500 apartments led by a major national housing company, reflecting growing confidence in the company as a partner across both private and government-led housing initiatives.
GS REDC General Manager Woongjo Choi said Saudi Arabia represents one of the company’s key strategic international markets. “Oasis Residences marks the beginning of a new phase of GS REDC’s presence in the Saudi housing development sector. Through this partnership, we aim to transfer the concept of integrated communities and ‘all-in-one’ models to cities and support Saudi Arabia’s long-term housing goals. GS REDC is the first and will continue to be the only Korean developer to enter the Saudi housing market. With the launch of sales of this project, GS REDC has established itself as a bona fide company.”As Saudi Arabia’s world-class developer, the company intends to aggressively move forward with its rapid transition to high-rise ultra-luxury apartments, urban development projects, and government-led mega-projects. ”
Saudi-led international cooperation model
The launch of Oasis Residences highlights a Saudi-led development model where local developers take the lead while working with experienced international partners to raise standards of planning, design and execution. Through this approach, Alargan Project Company will continue to strengthen its position as a leader in the Saudi housing development sector, while contributing to the overall improvement of housing quality in the Kingdom.
