The Saudi real estate market achieved the largest real estate deal in Jeddah during the year 2021, represented by the sale of the land of the Saudi Oger company, the Purple Red Sea project, in a public auction, with a value exceeding 1.34 billion riyals, at a price of 4,410 riyals per square meter. The value of the endeavor amounted to more than 35.7 million riyals.
According to Arabiya Net, the project has many attractions, which make it an exceptional investment opportunity, as it is characterized by its strategic location in the Al-Shati neighborhood, one of the most important neighborhoods in northern Jeddah, opposite to the waterfront, and adjacent to the Red Sea Mall complex, according to Al-Eqtisadiah newspaper.
The Arjwan project is in the middle of King Abdulaziz Road, one of the main arteries of Jeddah from the eastern side, and Prince Faisal bin Fahd Road from the western side, which contributes to linking the project's land with various neighborhoods north of Jeddah, and provides easy access to the heart of the city.
The characteristics of the Arjwan project in terms of its location and vast area, make it an opportunity for real estate investors and developers, as the project provides the possibility to build residential, commercial and hotel complexes, especially that the North Jeddah is one of the fastest growing residential, commercial and investment areas, which turns it into an attractive destination for real estate investment.
The head of Adair Real Estate, the exclusive marketer of the project, Mutaib Al Saad, said earlier that the Arjwan project is one of the most promising and ambitious real estate projects in the city of Jeddah, given the fundamentals The distinctive quality it enjoys, and its unique strategic location in the heart of the beach district, which provides an attractive lifestyle for owning or real estate investment.
Al Saad pointed out that Jeddah is one of the most important real estate investment destinations in the Kingdom, with the implementation of many giant development projects that aim to develop the city, support its aspirations, and contribute to the development of the city. Attracting businessmen and investors from all over the world, making the city of Jeddah a unique destination for promising real estate investment in line with the Kingdom's Vision 2030, which aims to develop the real estate sector primarily to achieve a growing economy that outlines the features of the Kingdom's prosperous future.
It is mentioned that the Arjwan project is one of the most important properties of Saudi Oger Company Ltd., which is exclusively marketed and sold by Adair Real Estate Company.
