Ewaan launches new Jeddah scheme

Company's new Almayaar project in Dahban will neighbour existing site

NEWS, Projects, Housing, Jeddah, KSA, Real estate trends

Saudi Arabian developer Ewaan has announced the launch of its new Almayaar residential project at the Cityscape conference in Jeddah.

The company said that Almayaar would be its second major development in the Dahban area to the north of the city. It will sit next to the first, Alfareeda, on an adjacent site of 333,777m2 of space.

It added that residents of the second scheme will benefit from facilities built for Alfareeda, including schools, medical centres, mosques, shopping malls, sports and entertainment areas.

"We are following up the sellout success of Alfareeda with Almayaar as an adjacent complementary project offering affordable apartment units in a unique location supported by state-of-the-art infrastructure and full services," said CEO Riyadh Al Thaqafi.

"The project is currently in the pre-development phase and is the logical next step in our mission to provide affordable housing for the Kingdom's middle income citizens."

The Alfareeda residential scheme includes 320 villas in its first phase and 420 within the second. The first phase has already sold out and 65% of the second has been sold.


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