Major real estate development companies in Saudi Arabia have started executing the biggest real estate development project in North Jeddah region, the project plan is stretched on 45 million square meters. The plan was divided to 19 construction projects ranging between 100 thousand and 25.4 million square meters.
The real estate developments works are concentrated in North Jeddah regions, specifically in Abher, Khaleej Salman, Asfan, Zahban, and Al Bahar Al Maftooh.
According to a real estate report issued by Wathrah real estate development company, one of the biggest infrastructure developers in Saudi Arabia, North Jeddah region is considered a promising area apt to achieve a whole developed and contemporary construction strategy.
Wathrah has recommended through its report increasing the attention to low-cost housing units as it is considered one of real estate sector pillars so it is important to adopt long-term strategies in this specific sector by both national and private sectors.
Jeddah is considered one of the fastest growing Saudi cities, this encouraged the growing demand rate on real estate units either in Jeddah or North Jeddah (New Jeddah). North Jeddah region is witnessing a new phase of conversion from horizontal to vertical growth through constructing a number of towers and sky scrappers in certain locations around Jeddah.