Jeddah affordable housing phase 1 ready
Jeddah, November 18, 2012
Ewaan Global Residential Company, a leading real estate developer in Saudi Arabia, has announced the completion of Phase 1 of its Alfareeda Residential Project and that affordable high quality villas are now ready for sale.
The company also announced the start of Phase 2 of the SR1.8 billion ($479 million) Alfareeda residential project, an advanced real estate development north of Jeddah, designed to provide affordable high quality housing for middleclass Saudi citizens.
Fahad Al-Mutawae CEO of Ewaan said: “Phase 1, consisting of 324 residential units, offers four types of villas in various sizes and different architectural styles, while Phase 2 consists of 460 residential units and is scheduled for completion by the end of 2013.”
“We enter the second stage of Alfareeda on a high note following the great success of Phase 1, where the onsite show villas are attracting the attention of our target audience; middle income.
“Saudi citizens who want to get away from the overcrowding and traffic congestion of Jeddah and start a new life where their young families can grow up in a calm and beautiful environment that offers a high quality lifestyle complete with superior facilities and every modern amenity,” Al-Mutawae added.
Alfareeda residential project occupies one million sq m of land and is a small city in its own right consisting of more than 1,800 residential units supported by an advanced infrastructure and service facilities that include state of the art telecommunications, an effective drainage system and rain bypass tanks, and a systematically planned road network designed to avoid traffic congestion.
Alfareeda is the largest project of its kind in the number of residential units and includes high standard educational and medical facilities, mosques, a shopping center, a sports club and a health club which the company recently decided to increase its size to suit the mass of the project, all set among landscaped green spaces, providing residents with a superior quality lifestyle experience in keeping with the culture and traditions of Saudi society, a statement said.
Residents of Alfareeda have the advantage of the project’s strategic location close to major institutions that have chosen New Jeddah as their home, according to the statement.
“Buying a home in Alfareeda represents a wise long term investment in a real estate property located in New Jeddah, the area that is destined to become the most fashionable and desirable place to live in the northern urban extension of the Kingdom’s commercial capital,” Al-Mutawae added. – TradeArabia News Service