Dar Al Arkan and Madinat Al Wouroud to develop $985mn residential project
Construction is expected to begin in the first quarter of 2022 and conclude within four years
Dar Al Arkan has partnered with Madinat Al Wouroud Housing Development company to develop a $985m premium residential project in the Taif governorate, which is located in the Kingdom’s southwest region. The project will be developed on an area of one million sqm, while respecting and preserving the topography and unique environmental features of Taif, the firm said.
According to a statement, the project will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities.
While the project targets the residents of Taif and the surrounding area, it will also promote the city as a key destination and a valuable opportunity for customers to purchase exceptional summer homes, to enjoy Taif’s mountainous nature, valleys, cooler weather and rose farms, which fully blossom in August, the statement noted.
“We are delighted to be partnering with Madinat Al Wouroud Housing Development, a company experienced in developing and managing high-quality residential communities, to deliver this unique project for the residents of Taif and the citizens of Saudi Arabia. In full appreciation of Taif’s natural elements, Dar Al Arkan will ensure that the new project is environmentally friendly. We expect to see high demand for this project in one of the most desirable cities in the Kingdom and Saudi Arabia’s unofficial summer capital to enjoy the milder climate, it’s natural beauty and annual cultural festivals,” said Dar Al Arkan chairman Yousef Al Shelash.
The development of the new residential project is due to begin in the first quarter of 2022 and is expected to be completed within four years.
Chairman of the Board of Directors, Dr Abdul Kader Obeikan concluded, “This partnership provides Obaikan and Dar Al Arkan with a remarkable opportunity to combine our extensive expertise in real estate development. Dar Al Arkan has an outstanding reputation and track record and will be an excellent partner to promote Taif as a desirable destination for Saudis. We have many remarkable destinations in the Kingdom, and Taif stands out as truly unique and we will showcase this as part of our residential project.”
