We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sat 17 Jan 2009 04:00 AM

Font Size

- Aa +

Obhur sees coastal residential projects

Big development projects are already under way in Obhur, Saudi Arabia. Construction work on universities, hospitals, malls and gardens is in full swing.

Big development projects are already under way in Obhur, Saudi Arabia. Construction work on universities, hospitals, malls and gardens is in full swing.

North Obhur is slated to join neighbouring areas as a place to experience the coastal climate of the Red Sea along with modern, state of the art facilities available to domestic and regional tourists, Saudi Arabian developers said.

Such real estate projects have increased during the last few months due to an increase in the population of Jeddah, which now needs more than 160,000 apartments.

The Obhur projects will require at least five years to complete. The projects will cost US $19.2 billion (SAR72 billion). When completed, the developments will to give Obhur a modern look with an altogether transformed landscape. With the transformation, the area will be given a new name - Jeddah the Future.

Previously the land around North Obhur was used only for investment and commercial projects. The land was bought and sold only for making huge profits. But now, according to Khalid Bashwaier, executive manager of Mehad Company for Real Estate, people are building houses in the area for personal use.

Arabian Business: why we're going behind a paywall

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.