Capitas International Group (“Capitas”), a company specializing in Islamic real estate finance and real estate development management in Jeddah, and the Jeddah Urban Development and Planning Company (the real estate development arm of the Jeddah Provincial Municipality) announced their agreement to study the development of the first phase of the Al-Dahiya residential project in Salman Bay, Jeddah.
The residential suburb project is located near Salman Bay and the Durrat Al-Arous Resort, approximately 10 kilometers from Madinah Road and 25 kilometers from King Abdulaziz International Airport. The project comprises 1,200 multi-story residential buildings and integrated infrastructure services, with a total value estimated at over one billion Saudi riyals. Jeddah’s CEO, Engineer Ibrahim Katbakhana, emphasized that Capitas plays a vital role from Jeddah’s perspective, as Capitas’ ability to combine technical expertise in real estate with a deep understanding of the financial and commercial aspects of real estate development in the Kingdom isessential to the successful implementation and long-term sustainability of this project.
A Smart Partnership Between «Jeddah Development» and «Capitas» to Ensure the Success of the Residential Suburb Project in Jeddah
