Hamad Mohammed Al-Mousa Investment and Real Estate Development Company in selling more than 81% of the “Al-Fal” residential and commercial land project in Jeddah, following the launch of the sales center yesterday, Tuesday, April 2, 2019, The auction saw a distinguished and high-caliber turnout of businesspeople, investors, and prospective buyers interested in the project, which spans one million square meters and is surrounded by a number of major and vital roads such as Prince Abdul Majeed Road and Transcontinental Road, It is also distinguished by its proximity to Madinah Road and Prince Nayef Road and is considered a valuable addition to Jeddah’s investment real estate market.
On this occasion, Hamad Mohammed Al-Mousa, Chairman of the Company’s Board of Directors, expressed his delight at the success of the first day’s sales, which exceeded expectations, Al-Mousa thanked the businesspeople, interested parties, and investors who contributed to the success of the sales. He noted that the 70 commercial lots, with a total area exceeding 124,000 square meters, allows for a wide variety of design options and permits construction of up to five stories. Meanwhile, the 408 residential lots, with a total area of more than 294,000 square meters, which are designated for four-story residential buildings. He noted the project’s proximity to a range of service and vital centers, such as the King Abdullah Medical Complex, Jeddah Tower, King Abdullah Sports City, and the Jeddah Corniche.
Important and Integrated Vital Facilities
Regarding vital facilities, Aban Al-Mousa explained that the Fal Land project includes multiple service areas, including a medical clinic, kindergartens, schools for boys and girls at various levels, mosques, parks, and green spaces, in addition to a massive shopping mall with a total area of 199,000 square meters, street lighting, wide paved roads, a sewage system, a water supply network, and other necessities for a peaceful and stable life.
“Al-Fal Land” is considered is considered a model residential and commercial development, as it is connected to an exemplary network of arterial and local roads that ensure safe and quick access for neighborhood residents. It offers numerous amenities that benefit landowners for purposes of permanent residence, real estate development, and investment, as reflected in the plan’s meticulous details and the layout of its components. (Jeddah Real Estate)
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