ANAN to launch 3 major real estate projects in Riyadh soon

ANAN Real Estate Company is girding up for launching several projects this year, the first of which is “Mahra” Plan in the north of Riyadh City on Abu Bakr Al-Siddiq Road, extending over 370,000 meters, where the sale will be initiated next week. The second project is considered to be the first of its kind, and represents a tower of world’s most renowned five-star food restaurants “Tower Terrace”. This tower will be located to the north of KAFD on King Fahad Road in Riyadh. The third project is “Riyadh Corniche”, located to the East of Riyadh, and includes a series of restaurants, clubs, entertainment places, green areas and passageways to be executed for the first time in Riyadh City according to world-class standards and specifications.

ANAN’s Director General, Badar Al-Duhaik said the launch of these three projects over this period in the metropolis Riyadh meets the dire need for the existence of distinguished, various specific projects, and the need for entertainment projects which are considered tourist and aesthetic frontage for the metropolis.

He pointed out that Mahra Plan will be in the lead of these projects, and sale will be initiated within the few coming days. This project is located on Bakr Al-Siddiq Road, extending over 370,000 meters, and comprises a housing and commercial plan. The Middle East’s first of its kind project will be “Tower Terrace” on King Fahad Road in the north, opposite to King Abdullah Financial District, and is made up of 17 levels occupied by a series of most world-renowned, five-star branded restaurants and coffee shops, to meet the needs of world-class restaurants’ clients, so that all options are available in one tower due to the long distances between places in Riyadh and so on. A third project to the East of Riyadh City will be “Riyadh Corniche”, extending over 200,000 meters, and comprises a series of restaurants, coffee shops, entertainment and sporting clubs, green spaces and clubs over vast areas, affirming that the projects to be launched by ANAN are considered a tourist frontage for Riyadh City and a qualitative leap in the real estate investment field.

Al-Duhaik added the real estate sector, and the fluctuating periods, described by some people as a phase of recession, is considered one of the best investment opportunities to be capitalized upon thanks to its high revenues generated when the security level accompanying the investments is increased. “Moreover, the real estate market is quite promising. We are now at the beginning of the way to correction, which brings good news and soon we are going to see the first good tidings, although the real estate market is facing real challenges, which are expected, due to the population growth in the country, and it goes beyond doubt that the real useful, productive estate development will push the market forward, especially as the Saudi Arabian real estate sector is still keeping its attractions.”

ANAN Real Estate Company is one of the largest specialized real estate marketing companies in Saudi Arabia, which has executed a large number of real estate auctions, development and specific projects all over the Kingdom’s cities. ANAN signed agreements with Al Khaleejiah Holding Company, represented by Dr. Bandar Al Saud, Deputy Chairman and Managing Director, Kayan Real Estate Company, represented by its sales manager Abdul-Aziz Al-Juhaimi, and Rax Company represented by its Director General Turkey Al-Shahrani and Dr. Yas Al-Kahli.