Dar Al Arkan has revealed its desire to obtain off-plan sales licenses for several of its projects, as it has applied to the Developer Services Center in the Ministry of Housing to obtain approval for three integrated development projects. <The new plans include three zones in Shams Riyadh, which will be a landmark of the capital, located in a prime location on King Khalid Road. The integrated project in Zone 1 will be built on an area of more than 849,000 square meters, while the development plan for Zone 3 will cover an area of 449,000 square meters, and Zone 5 will span an area of 638,000 square meters. The Shams Riyadh project includes residential, commercial and mixed-use units and overlooks the scenic views of Wadi Hanifa. The request for approval of the new plans for the three zones of Shams Riyadh follows the completion of the 600-unit SABIC residential complex built on 1.8 million square meters in Zone 2 and the start of construction of Mirabilia, a luxury residential villa project with interiors by Italian brand Roberto Cavalli, in Zone 4.
The new plans for the three zones of Shams Riyadh come on the heels of the completion of the 600-unit fully-furnished residential complex built on an area of 1.8 million square meters in Zone 2. Infrastructure investments in the project have amounted to more than SAR 1 billion to date, including two power substations as well as major roads leading to the project.
Youssef bin Abdullah said. <Yousef Bin Abdullah Al Shalash, Chairman of Dar Al Arkan Real Estate Development, said: “We are delighted to be part of the ”Tajamal“ initiative. We have submitted three projects in Riyadh to obtain the necessary approvals for construction work. We are confident that with the launch of the ”Tajamal“ initiative, the approval process for new projects will become faster, which will benefit developers and all those involved in this sector. The approval of the new master plans in the three areas will contribute to the manifestation of Shams Riyadh as an integrated residential and commercial community, and through our cooperation with ”Tajamal“ we can transform the new areas into viable and integrated communities that offer their residents a modern lifestyle.”
