10 Hrs
Source:
الاقتصادية
Kadun Real Estate Projects in Saudi Arabia Worth 2 Billion Riyals
Cadence Real Estate Company plans to increase its share in Saudi projects from the current two billion riyals to double that amount over the next five years, with a total investment estimated between 10 to 11 billion riyals across the residential, commercial, industrial, logistical, and hospitality sectors. The company aims to reach 1.5 million square meters of rental spaces within the next three years, following the signing of a memorandum of understanding to develop the "Muntaja City 2" project, which includes office and commercial spaces as well as approximately 1,500 residential units. The first phase is expected to be completed within three years, with the entire project finishing in five years. Additionally, the company anticipates that increased property ownership by foreigners in the holy cities, especially Madinah, will boost real estate demand there. This is part of its expansion into multiple Saudi cities, including Riyadh, Jeddah, Abha, Taif, and others.
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