https://arab.news/cjvx9
Abdul Latif Jameel Properties has announced that more than half of its new residential community development in Jeddah has sold in the first three days of launch. An additional 15 percent has been reserved by prospective buyers.
Dari II, a 98-unit community development comprising two-, three-, and four-bedroom apartments in the heart of Jeddah’s vibrant Al-Salamah district, will be completed and ready for handover in early 2024.
The hugely positive response to the new community follows the successful release of Dari Q, which sold out in 2021.
According to real estate consultancy JLL MENA, the demand for Jeddah’s residential real estate sector in 2022 is likely to continue to be driven by the rising local population of Saudi citizens looking to own quality homes that complement their modern lifestyle.
With Saudi Arabia’s 32 million population growing at an average 2 percent annually, the residential market is dominated by young middle-class Saudis who are first-time homebuyers. This, in turn, is driven by the Vision 2030 government aim to increase the percentage of Saudi families owning homes to 70 percent by 2030.
Fady Jameel, deputy president and vice chairman, Abdul Latif Jameel, said: “This is a milestone for Abdul Latif Jameel Properties and their commitment to providing Saudi citizens with modern, high-quality developments which provide peace of mind, and an affordable and high standard of living. The hard work in creating a community of apartments, which are attractive to a range of residents, has paid off with this immediate response and positive feedback in sales and reservations.”
Located close to schools, nurseries, and healthcare facilities as well as main artery roads Prince Sultan Street and Madinah Road, Dari II is also in close proximity to Jeddah’s prominent restaurants, cafes, and shopping malls.
The 98 apartments form a community situated around a central courtyard and residents will enjoy access to private swimming pools, a children’s play area, a gym and sports field, reception, as well as a multi-use hall for social gatherings and events in a secured environment.
The release of sales at Dari II comes after the successful launch of Dari Q, a modern and elegant take on urban living, with spaces designed for comfort, combined with a contemporary architectural design and luxurious interiors.
Part of Abdul Latif Jameel, one of the region’s most respected diversified family businesses, Abdul Latif Jameel Properties uses state-of-the-art technology to develop high-quality, energy-efficient developments, ranging from affordable, contemporary family homes to high-end residential apartments and corporate real estate facilities.