Search Site

Trends banner

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Dar Al Arkan to develop $985m residential project in Saudi Arabia

The development of the new residential project is due to begin in the first quarter of 2022
  • The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and unique environmental features of Taif
  • It will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities

Dar Al Arkan, a leading real estate company in Saudi Arabia, has signed an agreement with Madinat Al Wouroud Housing Development company to jointly set up a premium residential project at an investment of SR3.7 billion ($985 million) in Taif governorate in the kingdom’s southwest region.

The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and unique environmental features of Taif.

It will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities.

While the project targets the residents of Taif and the surrounding area, it will also promote the city across the kingdom as a key destination and a valuable opportunity for customers to purchase exceptional summer homes to enjoy Taif’s mountainous nature, valleys, cooler weather and rose farms which fully blossom in August.

“We are delighted to be partnering with Madinat Al Wouroud Housing Development, a company experienced in developing and managing high-quality residential communities, to deliver this unique project for the residents of Taif and the citizens of Saudi Arabia,” Chairman Yousef Al Shelash said. 

The development of the new residential project is due to begin in the first quarter of 2022 and is expected to be completed within four years.