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Jenan signs contracts for projects worth SAR450 million

Saudi Arabia - March 5, 2017

Jenan Real Estate celebrated the signing of contracts for four new projects worth SAR450 million in Saudi Arabia at its annual event held in Movenpick Al Khobar.

Jenan also signed a contract with Projacs to manage all the projects. In addition to finalizing a deal with Arab National Bank worth SAR103 million to finance the projects.

At the ceremony, Dr. Bassam Bode, president of the Chamber of Real Estate Committee Eastern Region, said: “This ceremony comes at the right time as the company looks to continue in the leadership and development role of the real estate sector.”

Al Khobar Residence, the first project, includes 134 apartments spread over 4 buildings. Located on the coastal King Faisal Road, the SAR180 million buildings feature a sea view.

The second project is an expansion of Al Khobar Gardens. It includes building 33 new villas in 4 different models. The SAR40 million villas will be located in Al Aziziya.

Laguna Residence Phase One, the third project, will see the construction of 32 seafront villas in two models at Dana Bay. Each villa will feature a private beach as well as integrated services. The project is worth SAR110 million.

Villagio is the fourth of Jenan’s projects, is a commercial and entertainment complex that includes the development of an open area for high-end restaurants in the city of Khobar. The project includes 36 independent restaurants and is worth SAR120 million. Villagio is strategically located on King Saud Road.



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