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FINANCIAL NEWS
Phase 1 of Saudi Arabia’s Al-Talah Gardens sells out in 4 hours
22 Jun 2011
(MENAFN) King Abdullah Economic City (KAEC) said that it will launch phase two of sales of its Al-Talah Gardens project soon after selling all of the phase one land in only four hours, Arab News reported.
Many people have expressed interest in buying land in the second phase, so KAEC plans to offer more plots soon, Fahd Al-Rasheed, managing director and CEO of KAEC, said.
The Al-Talah Gardens residential project, which will be aims to provide land plots for the middle class and help Jeddah fill its affordable housing shortage. The land sold at USD133-187 per square meter, which Al Rasheed is competitively priced.
The over 500,000 square meter project will contain mosques, schools, medical services, advanced health and fitness facilities, and an events hall, Al Rasheed said. The project is crossed by a one kilometer long walkway surrounded by gardens.
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