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.
