The market value of the project exceeds 1.5 billion riyals
Itqan Real Estate has signed a marketing agreement for the Bawabat Al-Tahlia project with Sundus Real Estate, the project’s owner and developer, following the completion of all preparations to launch the second phase of sales and immediate handover of the project, which has a total area of 875,289.38 square meters in the Al-Waha neighborhood in the heart of Jeddah.
The agreement was concluded under the supervision of His Royal Highness Prince Faisal bin Mishaal bin Abdulaziz Al Saud, in the presence of His Royal Highness Prince Abdulaziz bin Mishaal bin Abdulaziz and a number of officials from both companies, in accordance with health protocols to prevent the spread and outbreak of the coronavirus pandemic.
In a statement, Mr. Abdulaziz bin Fahd Al-Rashid, Chairman of the Board of Directors of Itqan Real Estate Company, noted that the «Bawabat Al-Tahlia » project—which is set to be marketed—is one of the most vital and promising developments in the city of Jeddah, comprising 544 plots ranging from prime commercial lots with areas varying between 2,150 m² and 4,440 m² , on which nine stories can be built, and mixed-use residential and commercial plots ranging in size from 1,150 m² to 1,580 m² on which up to 7 stories can be built, and residential plots ranging from 600 m² to 1,200 m² on which up to 6 stories can be built, offering investment opportunities for all segments of society, In addition to public services, the plan includes four mosques, four schools, and four model public parks equipped with dedicated playgrounds for children.
Al-Rashid statedAl-Rashid« stated that the project will be sold through a public auction to be held soon, God willing, in the city of Jeddah. He also encouraged those seeking further clarification about the project to visit the company’s website or contact Itqan Real Estate’s toll-free number: (920001019) (0537532000), or via social media channels.
It is worth noting that this year, "Itqan Real Estate« has signed a number of agreements to market real estate projects characterized by diverse layouts and comprehensive services in several cities across the Kingdom through public auctions and direct sales. The sales process also saw significant interest from investors and citizens, with sales exceeding three billion Saudi riyals, despite the COVID-19 pandemic and the global economic slowdown the world is currently experiencing.
