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Anan to launch three big projects in Saudi Arabia

RIYADH, June 15, 2016

Saudi-based Anan Real Estate Company is set to launch three major projects including a first-of-its-kind development in the Middle East - Tower Terrace - an 18-storey building which boasts some of the world's most renowned five-star food restaurants, said a report.

The company will kick off its mega development plan with a mixed-use project "Mahra" located in the north of Riyadh on Abu Bakr Al-Siddiq Road, extending over 370,000 sq m, according to The Saudi Gazette.

A major highlight will be the "Tower Terrace" project which will come up on King Fahad Road in the north, opposite King Abdullah Financial District (KAFD), stated the report.

A novel project for the Middle East region, "Tower Terrace" will see all the17 levels occupied by the most world-renowned, five-star branded restaurants and coffee shops.

The third project is "Riyadh Corniche", located to the east of the kingdom's capital, which will boast of a series of restaurants, coffee shops, entertainment and sporting clubs and green spaces and passageways over a sprawling 200,000 sq m area, it added.

Anan's director general Badar Al Duhaik said Mahra will be the first of the projects to roll out and the sale will be initiated within the few coming days.

"These projects will help meet the dire need for sistinguished, specific projects, and the need for entertainment projects for the metropolis," he added.

Al Duhaik pointed out that the Saudi real estate market was quite promising.

"Although the real estate market is facing real challenges, which is expected, due to the population growth in the country, and it goes beyond doubt that the real useful, productive real estate development will push the market forward, especially as the Saudi Arabian real estate sector is still attractive," he added.




Tags: Saudi Arabia | Projects | Anan | Tower Terrace |

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