Saudi mega-developer ROSHN has reached 80 per cent sales and over 70 per cent completion of infrastructure for the first phase of its ambitious ALAROUS residential development in north Jeddah.
Located close to King Abdulaziz International Airport, the massive 4 million square meter ALAROUS project will deliver 18,000 homes when fully built out over three phases. The development is seeking to help address Saudi Arabia’s housing shortage while also catering to expat residents, according to the project’s developer ROSHN Group.
“When fully complete, ALAROUS and its fellow development MARAFY will comprise over 18,000 homes and add a considerable amount of stock to the market in Jeddah,” said Jason Margetts, ROSHN Group’s Chief Sales Officer.
He noted the north Jeddah location is rapidly developing and sought after by homebuyers. ALAROUS is one of ROSHN’s most popular projects so far.
Beyond helping increase housing supply, ALAROUS is aiming to appeal to Saudi and expatriate families alike with amenities like parks, walkable neighbourhoods, bike paths, shops, clinics and schools. Architectural designs blend modern and regional influences.
“We design all of our communities to be open, welcoming and safe,” Margetts said. “What we are looking to do is create communities that offer both convenience and quality of life.”
“This is phase one and ALAROUS is going to be built in three phases. I’ve been pleasantly surprised by the amount of interest we have received in ALAROUS, from both locals and expats,” he added.
Notably, ALAROUS has seen significant interest from expatriates who have qualified for premium residency status allowing them to purchase homes in Saudi Arabia. Margetts said this expat demand is expected to grow as more people put down roots in the Kingdom following recent visa reforms.
“We have buyers who have premium residency, and home ownership for them is an attractive option. If you want to stay in the Kingdom for the long term, you’d prefer to buy rather than rent as it is a sound investment,” he explained.
“This market will grow, and what with the increasing interest in the Kingdom on a global stage I would hope to see more expats coming here and putting down their roots in Saudi Arabia. We look forward to welcoming them.”
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