The project aims to construct 960 residential units and 65 commercial units in a strategic location on Prince Majid Road, close to the city's most vital areas. <The project aims to construct 960 residential units and 65 commercial units in a strategic location on Prince Majid Road, close to the most vital areas of the city. The project includes 6 integrated residential complexes, which enhances ownership opportunities and provides an advanced urban environment that meets the aspirations of residents. The agreement was signed under the auspices of the Ministry of Municipalities and Housing, within the framework of the partnership between the public and private sectors to support the implementation of integrated housing projects in line with the Kingdom's Vision 2030 and contribute to achieving the objectives of the housing program by providing quality and affordable housing units.
The agreement was signed under the auspices of the Ministry of Municipalities and Housing. Engineer Tariq bin Abdullah Al-Zeer, Director General of the General Directorate of Real Estate Development Operations at the Ministry, emphasized that the project is a successful model of partnership between the two sectors.
He said <He said: “The Uptown Jeddah project contributes to increasing the housing supply in Jeddah, but excellence does not stop at the number only, but extends to the quality of life and strategic location, which raises the level of reassurance and confidence among the beneficiaries. The government's support for partnerships with the private sector is a key pillar in enabling citizens to secure and sustainable ownership.”
Jawad Kee said. <Jawad Kiwan, CEO of Emirates NBD Capital, expressed his pride in launching this project, saying: “Emirates NBD Capital is delighted to launch the Uptown Jeddah Real Estate Fund in partnership with AFAC and under the patronage of the Ministry of Municipalities and Housing. The fund reflects investor confidence in the Saudi real estate economy and embodies our commitment to support the Kingdom's efforts in raising ownership rates and achieving the goals of the vision.”
Assem Al Kathiri, Managing Director of Emirates NBD Capital, said. <Asim Al Kathiri, CEO of AFAC, also noted the economic and developmental dimensions of the project, adding: “The project is located in the heart of Jeddah and is characterized by quality of life and shared services, and we aspire to be a successful model in real estate partnership. We are confident that the Uptown Jeddah Fund will generate attractive returns for investors and will be a new success story to add to AFAC's track record in the real estate sector.”
