The project aims to create the largest residential suburb in Saudi Arabia.
The Saudi capital is set to grow once more. The state-owned National Housing Company has announced the launch of Al Fursan, a new residential suburb in Riyadh. Here’s what you need to know about the SAR 24 billion development.
Al Fursan in Riyadh aims to be the largest residential suburb in Saudi Arabia. The new development will cover an area of more than 35 million square metres, house more than 50,000 residential units and include 190 facilities. The site will be home to health centres, hospitals, mosques, recreational facilities, schools, shops and sports centres. Plus, there will be green spaces covering more than six million square metres.
The plan brings together 18 real estate development agreements. The first phase of the project sees companies, ranging from Retal Urban Development Company to Sumou Real Estate Company, join the development. Plus, four consultancy contracts were signed to manage the project and supervise its implementation.
Other developments in Riyadh include Khuzam Suburb, which is north of the capital. Covering 21 million square metres, it will include 30,000 residential units and can house 150,000 people.
The most impressive project that has recently been announced for Riyadh is the New Murabba Development Company. The $800 billion project aims to double the size and population of the capital, and transform downtown Riyadh. Upon completion, the megaproject will include a museum, technology and design university, multi-purpose immersive theatre and more than 80 cultural and entertainment venues.
New Murabba Development Company will be located at the intersection of King Salman Road and King Khalid Road, which is in the northwest of Riyadh. Set over 19 square kilometres, it plans to encompass 104,000 homes, 9,000 hotels rooms and 1.4 million square metres of office space.
Riyadh, we’re excited.
GO: Visit https://nhc.sa for more information.
