Dar Al Arkan Real Estate Development Co. announced in a statement that it has signed a joint agreement with Madinat Al Wouroud Housing Development Co. for the development of eco-friendly residential project in Taif Governorate, Western region of Saudi Arabia.
The value of the agreement is approximately SAR 3.7 billion (USD 980 million),
The Project will be developed on an area of 1 million sqm, according to a press statement.
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.
The new 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 across the Kingdom as a key tourism destination.
