Saudi Arabia’s Injaz eyes 2,000-unit new project

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Saudi Arabia’s Injaz Development Company is in talks to purchase a SAR1.8bn ($480m) plot of land on which it plans to build 2,000 residential units, its managing director told Arabian Business.

The firm is also eying sales of SAR1bn for two clusters of land in its Damman-based Al Marina project.

“We are negotiating with the land owners to participate and to develop the project. In terms of cost we are talking about approximately SAR1.8bn. We will develop more than 2,000 [residential] units. The size will be more than four million sq m,” said Omar Al-Kadi.

“We have some interest on the residential [projects in Al Marina] and also some of the mixed-use towers. We are trying to reach a target of SAR1bn of sales by the end of next year,” he said.

Injaz will launch sales for 1,100 plots of land in its Al-Gamra project within in the next three months, he added. Total sales are expected to be SAR600m.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Do celebrity branded projects ever work?

Do celebrity branded projects ever work?

The long list of celebrity-endorsed real estate developments...

Is this the end of the Gulf’s Indian cash dash?

Is this the end of the Gulf’s Indian cash dash?

From currency woes to taxation loopholes closing and a clampdown...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew