Wathra Real Estate Investment and Development Company—a subsidiary of the Abdulqader Al-Muheidib & Sons Group—won the award for Best Company in the Land and Infrastructure Development Sector.
For his part, Abdulrahman Al-Muheidib, CEO of Wathra Investment and Real Estate Development, stated that this award certainly serves as a testament to the stability and continuity of the company’s strategy aimed at dedicating itself to real estate development, particularly in the residential sector, through various mechanisms, including expanding the launch of development plans, specializing in infrastructure for undeveloped land, and investing in it.
Abdullah bin Adnan Al-Muheidib, Vice President of Wathra, recently received the award for “Best Company in the Land Development and Infrastructure Sector” at a ceremony hosted by ITP as part of the Arabian Business Awards in Riyadh.
Abdulrahman Al-Muheidib confirmed that Wathra Real Estate Investment and Development Company, founded in 2013, is currently developing three projects and master plans in Jeddah with a total area of 1,665,934 square meters, divided into 1,412 lots spread across the Al-Durra, Kunooz Jeddah, and Shati Al-Khaleej developments. He explained that the Al-Durra project, located in Dhahban —on Al-Durra Road—has a total area of 465,934 square meters. He noted that it is a residential and commercial development currently under construction, comprising 374 plots, and the development will be handed over upon completion in early August 2014. Al-Muheidib also noted that the Gulf Beach development, located north of Jeddah —Salman Bay—has a total area of 700,000 square meters. He noted that it is a residential and commercial development currently under construction, comprising 518 lots. Regarding the Jeddah Treasures project, Al-Muhaidib stated that it is located in Al-Khamra—south of Jeddah—with a total area of 500,000 square meters. It is a residential and commercial development currently under construction, comprising 520 lots.