Published — Monday 3 February 2014
Last update 3 February 2014 4:08 pm
According to an internal report released by Injaz Development Company, a major real estate development and management company in Saudi Arabia, the Eastern Province and particularly its capital, Dammam, is set for real estate growth and expansion. During the last couple of years, investment in real estate sector in the province has exceeded SR100 billion while the annual demand for residential accommodation is approximately 60,000 units.
Western Dammam has witnessed major construction activities as a natural residential expansion area, with a host of projects under construction along with recently announced development plans in this part of the city. These highlight the importance of Al-Nada project scheme and the strategic cooperative agreement Injaz has signed with Almutlaq Real Estate Company (AREIC), part of Almutlaq Group, to handle the development’s sales and marketing management.
Al-Nada project scheme sales campaign will be launched mid-February, to address the wide interest marked from real estate specialists and potential customers within the area. Spread across 120,000 square meters, the Al-Nada project is strategically located at the Riyadh-Jubail Road and Abu Bakr Al-Siddiq Street intersection to the west of Al-Faisaliya district.
The project site is a fully constructed residential area that boasts of basic services in addition to a well-developed infrastructure, including a wide network of streets, well-connected transportation system, lighting, electricity and sanitation, among others.
The Al-Nada project scheme offers one of the finest real estate and construction opportunities arising from Saudi Arabia’s largest province.
Omar Al-Kadi, CEO and MD, Injaz, said: “The major investments and projects in the area in addition to its advantageous location, makes west Dammam an ideal destination for residential projects.”
“We are confident that Al Nada, which is designed to cater to the diverse tastes and requirements of its target residents, will satisfy growing demand and match the Kingdom’s vision for real estate development.”