Darco Real Estate has launched a significant waterfront development project in Jeddah, valued at $129.33 million. This ambitious project, located in the South Obhur area, aims to transform a 205,000 square meter waterfront space into a vibrant urban area, blending residential, recreational, and commercial facilities.
The project was inaugurated by Prince Badr bin Sultan, Deputy Emir of the Makkah Region, alongside notable figures such as Minister of Municipal and Rural Affairs and Housing Majed Al Hogail and Mayor of Jeddah Governorate Engineer Saleh Al Turki. This initiative is part of the broader Vision 2030 plan, which seeks to diversify Saudi Arabia's economy and enhance the quality of life for its citizens.
The development will feature 28 buildings encompassing over 500 residential units, catering to a variety of housing needs. In addition to residential spaces, the project includes significant amenities aimed at fostering community engagement and a high quality of life. These include a sea promenade, sandy beaches, extensive green spaces, pedestrian pathways, and a cycling track. Recreational facilities such as playgrounds, swimming areas, and a marina are also integral parts of the development, alongside food carts and retail zones to enhance the commercial appeal of the area.
In a bid to ensure the project's success, Darco Real Estate has partnered with several prominent companies, including Al Othaim, Leejam, Dinar Holding, Zoyouf, Knight Frank, and Anderson Saudi Arabia. These partnerships will help provide a range of services and infrastructure support necessary for the project's completion and operational success.
The Jeddah South Obhur project is expected to create numerous investment opportunities, particularly in the retail and infrastructure sectors. By offering attractive prospects for investors, the project aims to stimulate economic growth and development within the region.
This initiative also includes the launch of the Bahjah Project, which aims to develop parks and urban interventions in cities across Saudi Arabia. This project focuses on converting unused spaces into active urban areas, enhancing community cohesion, and promoting healthy lifestyles through well-designed public spaces.
Overall, the Jeddah South Obhur project marks a significant step in Saudi Arabia's ongoing urban development efforts. By combining residential, recreational, and commercial elements, the project is set to become a key urban hub, enhancing the livability and attractiveness of Jeddah’s waterfront.
The launch of this project underscores Saudi Arabia's commitment to creating dynamic and sustainable urban environments, aligning with the goals of Vision 2030 to enhance the quality of life and economic prosperity in the kingdom.
Sources:
- Gulf Construction Online
- Trade Arabia