All land plots of beach community 2 phases one, two, three and four were completely sold out at al murooj district in king abdullah economic city

King Abdullah Economic City, October 20^th, 2013

Residential land plots sale of Beach Community 2 at Al-Murooj district in King Abdullah Economic City (KAEC) witnessed huge demand by citizens and investors looking for land plots offered in prestigious locations. All land plots of beach community 2 phase's one, two, three and four were completely sold out at the sales' events recently launched in both cities Riyadh and Jeddah

In this occasion, Mr. Fahd Al-Rasheed - Managing Director and CEO of King Abdullah Economic City, expressed his delight for this great success, saying: "Today we witness another important step in King Abdullah Economic City development journey. We are proud of the new sales record which clearly reflects the buyers and investors trust and confidence in KAEC, and confirms it is the most sought after residential, business and investment destination in all of Saudi Arabia." He went on: "This remarkable success incites us to assure our customers that we are prepared to launch a new land sale which will be announced soon."

Al-Rasheed also pointed that the huge influx of investments in business enterprises and industrial projects resulted in a surge demand on residential accommodation, which KAEC is meeting by offering a wide range of housing solutions that are suitably priced for different income levels within an integrated urban lifestyle.

Al Murooj district is the most prestigious of the KAEC coastal communities. Spread over 4.9 million sqm the district consists of three focal areas: the Al Manazel townhouses; the Golf Communities surrounding an 18-hole golf course; and the Beach Communities. Residents of Beach Community 2 will enjoy a 40 meter wide sand beach complete with a pier, gazebos and seating areas, while the residential properties are supported by a state-of-the-art infrastructure and world-class service facilities.

King Abdullah Economic City is one of the largest and most important private sector initiatives in the Middle East, encompassing a total area of 168 million sqm along the coast of the Red Sea.  Through its Industrial Valley KAEC has succeeded in attracting more than 60 national and international industrial companies. Strategically located and with its own seaport, KAEC offers a wide range of housing solutions that are suitably priced for different income levels, which are all supported by a high quality infrastructure and a complete range of services and facilities such as The World Academy School, which is already open with a future total capacity of 2,250 students, and a medical center for primary care and emergency operated by Dr. Soliman Fakeeh Hospital Company. In addition, retail stores have been fully leased and a number of restaurants, cafes, sales outlets and pharmacies are already open.

-Ends-

© Press Release 2013