Smart Accommodation for Residential Complexes Company (sarcc) signed a non-binding Heads of Terms with MAWREF Company to develop a worker accommodation project in North Riyadh. The sarcc MAWREF worker accommodation project will deliver 12,000 beds and commence operations in the first quarter of 2029.
The development will occupy approximately 120,000 square meters of land with a total built-up area of 150,000 square meters. The estimated development cost stands at SAR 669 million. The project targets workforce housing demand driven by Saudi Arabia’s expanding logistics and industrial sectors.
Project Specifications and Timeline
The sarcc MAWREF worker accommodation facility will be located in a prime area in North Riyadh. The first phase of operations is scheduled to begin in Q1 2029. The project represents a significant addition to the Kingdom’s workforce housing infrastructure as Saudi Arabia continues its economic diversification efforts.
Strategic Partnership Details
The agreement brings together sarcc, a Public Investment Fund company, with MAWREF Company, which operates in industrial and logistics real estate development. MAWREF brings expertise in long-term operations management of workforce accommodation, industrial, and logistics assets to the partnership.
“This proposed development with MAWREF represents a significant step in advancing sarcc’s mission to deliver scalable, high-quality worker accommodation solutions across the Kingdom.”
James Atkinson, Acting CEO of sarcc
Alignment with National Development Goals
The project supports the Public Investment Fund’s strategic objectives and contributes to Vision 2030 goals. The development focuses on creating safe and secure living environments designed to enhance workforce productivity. Moreover, the partnership emphasizes local content through collaboration with Saudi private sector entities.
“Through this collaboration, we aim to deliver and operate safe, high-quality living environments that support workforce wellbeing, enhance productivity, and align with the Kingdom’s evolving standards for quality housing.”
Rami Alshaikh, CEO of MAWREF Company
Future Outlook
The sarcc MAWREF worker accommodation project addresses rising demand for purpose-built workforce housing in Saudi Arabia. As the Kingdom’s logistics and industrial sectors continue to expand, the need for quality worker accommodation grows accordingly. The project demonstrates how public-private partnerships can deliver infrastructure that supports economic growth while maintaining high standards for worker wellbeing.