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ROSHN Group, a Public Investment Fund (PIF) giga-project, on Tuesday launched MARAFY, a mixed-use development in north of Jeddah, which will accommodate over 130,000 residents and house the first man-made canal in any Saudi mixed-use project.
The 11-kilometre-long and 100-metre-wide navigable canal will connect to and extend Obhur Creek and will be surrounded by multiple districts, the developer said in a statement.
David Grover, Group CEO of ROSHN Group, said: “It is core to us as a giga project to introduce such huge development to the kingdom, MARAFY will be a gamechanger on the real estate development sector, raising the bar of development in the region, boosting the quality of life, and creating a huge impact in Jeddah.”
The cost of the project and construction timelines were not disclosed.
MARAFY’s canal will provide a waterfront comparable in size to those of Chicago, Stockholm, Hamburg, and central London.
The new project will consist of multiple districts, including ROSHN’s existing integrated residential development, ALAROUS.
The development will have diverse waterside districts that will be connected to each other and the rest of Jeddah by an intermodal transport system, such as water taxis, bus lines, a dedicated Metro Red Line station, and a direct canal link to the King Abdulaziz International Airport.
(Writing by P Deol; Editing by Anoop Menon)
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