Mohammed bin Saleh Al-Bati, the CEO of the National Housing Company, has announced the launch of a new project to develop the city of "Banan" in the Saudi capital, Riyadh, in partnership with the Egyptian Talaat Moustafa Group.
Al-Bati, speaking at the Cityscape Global conference held in Riyadh, stated that the new project aims to create a comprehensive smart residential city with sustainable quality of life standards, implemented according to international standards.
Hisham Talaat Moustafa, the CEO and Managing Director of the Egyptian Talaat Moustafa Group, revealed that the investment cost for the new "Banan" city project, which will be developed by the group in the eastern part of Riyadh, the capital of the Kingdom of Saudi Arabia, amounts to 40 billion Saudi Riyals. He added that his group is eager to share its accumulated expertise during the development of this project, with details of the new project set to be announced within two months.
The Cityscape Global exhibition is taking place in Riyadh from September 10 to 13, under the auspices of the Ministry of Municipal and Rural Affairs and Housing in the Kingdom, with participation from over 170 countries securing their presence. The Cityscape account on the X platform (formerly Twitter) has posted numerous photos from the opening day, which occurred on Sunday.
The Cityscape Global exhibition is one of the most prominent and largest real estate investment and development events globally, bringing together a elite group of real estate developers, real estate service providers, financial institutions, and government agencies with the aim of presenting and offering real estate investment opportunities that align with the changes in the local and international real estate markets. The previous edition of the Cityscape Global exhibition was held in the city of Dubai.
Project Details:
The new project will be located in the Al-Fursan suburb of Riyadh and is one of the largest residential projects in the suburb. It will cover a total area of 10 million square meters and will offer 27,750 residential units, including villas, family residential units with areas ranging from 220 to 400 square meters, and various-sized apartments. Additionally, 40% of the project area will be dedicated to extensive green open spaces.
---
Autor(en)/Author(s): Ruba Abdelhadi
Quelle/Source: Al Bawaba, 11.09.2023
Bitte besuchen Sie/Please visit:
