Saudi Real Estate Sector Revived as Restrictions Lifted
Business
Dammam - Asharq Al-Awsat
Saudi Arabia’s real estate sector revived after Saudi Arabia ended a nationwide curfew and lifted restrictions on businesses from Sunday. Injaz Development Company has announced offering a group of residential and investment lands for sale in its “Al Marina project,” located in the eastern region, and covering a total area of 3.3 million square meters. According to the company, the project consists of a small coastal city with high-end infrastructure designs. It is located on the Arabian Gulf coast and surrounds one of the largest artificial lakes in the region, with a four-kilometer sea view, as well as dancing fountains. Injaz board member Omar al-Kadi said the project represents an urban environment in a new style. It is designed to provide a new lifestyle and a modern experience. He pointed out that offering the lands in the mega project is a positive sign for the real estate sector in the Kingdom’s eastern region. The project lies between Dammam, Khobar and Dhahran cities on the coastal road linking them. It provides a unique view of the Arabian Gulf and has locations for hiking and entertainment, Kadi explained. He stressed that Injaz took into consideration the Saudi Vision 2030’s “Quality of Life Program 2020” aimed at improving the individual and family lifestyle. Injaz is expected to offer about 870 land plots for sale, of which 652 targeted the residential sector with areas ranging from 500 to 700 square meters. The project includes 145 land parcels for building palaces, and offers 73 land plots to construct towers and overlook its lake and the Arabian Gulf, as well as commercial lands on the King Faisal road, adjacent to the project.
from Asharq AL-awsat https://english.aawsat.com/home/article/2347941/saudi-real-estate-sector-revived-restrictions-lifted
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