PHOTO
02 September 2015
RIYADH: Developers here have announced that they plan to start building a SR1.2 billion office, shopping and dining complex next year.
The Riyadh Walk project will be built on an estimated area of 137,000 square meters, with a 650-meter façade. It will be located on the northern ring road of Riyadh, only 3 km west of King Abdullah Financial City, in the prestigious Al-Nakheel neighborhood.
The lifestyle center will be similar to The Grove in Los Angeles and allow residents and visitors to enjoy an open-air mall experience. The project was announced here on Tuesday by Raj Real Estate company, a subsidiary of Al-Rajhi United, and Baseel property company. The agreement was signed by Waleed bin Saad Al-Haza, chief executive officer of Raj Real Estate company and Ahmed bin Abdullah Bakarman, chief executive officer of Baseel, at the head office of Rajhi United company in the capital.
"This project is a prosperous addition to the real estate market, one of the fastest growing sectors in the Kingdom and a major contributor to national economic growth, in light of the new economic diversification strategy adopted by the Saudi government under the guidance of Custodian of the Two Holy Mosques King Salman," Al-Haza said. "In addition to its real estate value and its vital location in the north of the capital, this project is a valuable addition to the retail, offices and hospitality markets, offering a harmonious balance of commercial markets, restaurants and cafes with global and regional excellence, all in one place."
He said that it also incorporates a boutique hotel, offices, luxurious recreational and cultural areas, and a walking area. It is designed to enrich the social life of Riyadh's people and become a gathering space for family and friends, he said.
"This project is a major step toward upgrading the commercial mixed-use projects in the Kingdom, through offering a unique product that fulfills various family requirements in an attractive and innovative way, and providing an escape for visitors of different age groups," he said. The Raj Real Estate Company specializes in property investment and the development of residential, commercial, medical, educational and industrial projects.
It has real estate investments in most Saudi cities in addition to the United Arab Emirates, United Kingdom, Czech Republic, and the United States through its mother company Al-Rajhi United.
RIYADH: Developers here have announced that they plan to start building a SR1.2 billion office, shopping and dining complex next year.
The Riyadh Walk project will be built on an estimated area of 137,000 square meters, with a 650-meter façade. It will be located on the northern ring road of Riyadh, only 3 km west of King Abdullah Financial City, in the prestigious Al-Nakheel neighborhood.
The lifestyle center will be similar to The Grove in Los Angeles and allow residents and visitors to enjoy an open-air mall experience. The project was announced here on Tuesday by Raj Real Estate company, a subsidiary of Al-Rajhi United, and Baseel property company. The agreement was signed by Waleed bin Saad Al-Haza, chief executive officer of Raj Real Estate company and Ahmed bin Abdullah Bakarman, chief executive officer of Baseel, at the head office of Rajhi United company in the capital.
"This project is a prosperous addition to the real estate market, one of the fastest growing sectors in the Kingdom and a major contributor to national economic growth, in light of the new economic diversification strategy adopted by the Saudi government under the guidance of Custodian of the Two Holy Mosques King Salman," Al-Haza said. "In addition to its real estate value and its vital location in the north of the capital, this project is a valuable addition to the retail, offices and hospitality markets, offering a harmonious balance of commercial markets, restaurants and cafes with global and regional excellence, all in one place."
He said that it also incorporates a boutique hotel, offices, luxurious recreational and cultural areas, and a walking area. It is designed to enrich the social life of Riyadh's people and become a gathering space for family and friends, he said.
"This project is a major step toward upgrading the commercial mixed-use projects in the Kingdom, through offering a unique product that fulfills various family requirements in an attractive and innovative way, and providing an escape for visitors of different age groups," he said. The Raj Real Estate Company specializes in property investment and the development of residential, commercial, medical, educational and industrial projects.
It has real estate investments in most Saudi cities in addition to the United Arab Emirates, United Kingdom, Czech Republic, and the United States through its mother company Al-Rajhi United.
© Arab News 2015
