Jeddah, Saudi Arabia has launched a large-scale residential development project with a total investment of 745 million Saudi riyals, approximately 200 million US dollars, which will add 960 high-quality housing units to the local area. This project is jointly developed by Saudi Arabia's Afak Investment and Real Estate Development Company and Dubai National Capital Company, marking significant progress for Saudi Arabia in achieving its 2030 Vision housing goals.

This residential project, named Upper City, is located in the Marawa district of Prince Majid Boulevard in Jeddah, Saudi Arabia, with a total construction area of 225965 square meters. The project plan includes 6 modern residential areas, providing a total of 960 housing units and 65 commercial shops. The project design focuses on the quality of community life, equipped with a central courtyard, green space, and complete supporting facilities, including a gym, daycare center, prayer room, shared office area, and reception area.

The project site is of great strategic significance, located only 3.5 kilometers away from King Abdulaziz International Airport and adjacent to the Haramain high-speed railway station. In addition, the project is 6.3 kilometers away from Aziz Shopping Center, 9.6 kilometers directly to Jeddah Coastal Park, and 18.8 kilometers connected to the world's highest fountain - the King's Fountain, forming a complete commercial, cultural, and leisure life circle.

New model of government enterprise cooperation

Engineer Tariq bin Abdullah Al Aziz, Director of the Real Estate Development Department of Saudi Arabia's Ministry of Municipal and Housing Affairs, stated that the private sector is effectively increasing the housing supply in the kingdom. The 960 newly added residential units in this project will significantly improve the supply and demand structure of the Jeddah housing market. The supply of high-quality housing needs to take into account both location advantages and living facilities, and the cooperation model between the government and the private sector provides reliable guarantees for homebuyers.

Investor statement

Jawad Kiwan, CEO of Dubai National Capital, stated that it is an honor to launch this ministry supported residential fund. The cooperation with partners such as Afak will promote the increase of home ownership rate, and the project not only responds to investors' expectations but also aligns with the 2030 vision goals. Asim Al Arsili, CEO of Saudi Arabia's Afak Investment and Real Estate Development Company, emphasized that the project is located in a strategic location in Prince Majid of Jeddah, with six major residential areas equipped with top-notch living service facilities. We look forward to creating substantial returns for investors and continuing the successful chapter of our company.

Project significance

As one of the largest modern residential development plans in Jeddah, the Upper City project embodies the developer's vision of creating intelligent and sustainable communities. By improving the quality of life for residents and enhancing community facilities, this project will strongly support Saudi Arabia's strategic goal of improving living conditions for its citizens in the 2030 Vision. The successful implementation of the project will also provide a new example for the sustainable development of Saudi Arabia's real estate market. (This article is from the official website www.seetao.com of Jian Dao. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website infrastructure engineering column editor/Yang Beihua