Al Atheer Real Estate announces 8,000 unit integrated residential development
Project is the Ministry of Municipal and Rural Affairs and Housing’s only project near the Jeddah Sea
Al Atheer Real Estate Development Company has announced a new project north of Jeddah, near Obhur beach. Obhur Park is billed as an integrated, multipurpose development spread over 1,145sqkm and will feature 8,000 apartment-type residential units of various areas and styles.
According to a statement, Obhur Park is the Ministry of Municipal and Rural Affairs and Housing’s only project near the Jeddah Sea. It will combine modern and Spanish architectures and will feature several retail and leisure facilities, in addition to urban green spaces that aim to offer tranquility, independence, and privacy to occupants.
The Obhur Park project provides diversified solutions to the residential sector, targeting the beneficiaries of Sakani programme that is being implemented in partnership with the Ministry of Municipal and Rural Affairs and Housing. It contributes to national efforts to provide more residential units with affordable prices and flexible financing options within short deadlines, and promote the real estate industry as a major contributor to the diversification of the Saudi economy, the statement said.
“Obhur Park is one of the most anticipated integrated construction projects, and comes in line with the directives of Saudi King Salman and Crown Prince HRH Prince Mohammed bin Salman to facilitate Saudis’ ownership of suitable accommodation, keep pace with population growth, and meet the growing demand for residential units in all regions. This project supports the endeavors to increase residential ownership among its citizens to 70% by the end of the decade in line with Saudi Vision 2030,” explained Sheikh Masood bin Mahdi Al Haider, chairman of the Saudi Alfaf Group.
The statement said that the project is the outcome of the efforts of Al Atheer Real Estate, a Saudi Alfaf Group company, to improve the quality of life and cater for the needs of various age groups.
Al Atheer Real Estate CEO Dr Turki Al Haider added, “We are proud of our strategic partnership with the Ministry of Municipal and Rural Affairs and Housing, and highly appreciate the efforts of the Ministry, led by Majed Al Hogail, to enhance private sector’s role as a key partner in driving sustainable development, as well as to provide the residential sector with large-scale projects and modern facilities. Obhur Park is the latest addition to the ambitious construction and housing projects in the kingdom, constructed in accordance with highest standards of sustainability and landscaping to ensure the comfort and welfare of community members.”
He concluded, “The project is a residential city that brings together residential towers, shopping centers, green spaces and parks, and a central garden that represents the ‘Project’s Green Heart’ to promote a healthy lifestyle among occupants, while ensuring full compliance with environmental sustainability criteria.”
