The highly anticipated Arjuwan Red Sea project land by the Saudi Oger company has been sold at a record $357 million in Jeddah which is said to be the largest real estate deal in the country this year, according to media reports. The land has been sold at SR4,410 per square meter.
It is considered to be one of the most prestigious neighborhoods in Jeddah and the cost exceeded SR35.7 million for 281,000 square meter land in a very sophisticated location.
The Arjuwan Red Sea project is one of the most ambitious real estate projects in Jeddah primarily because of its ideal location that lies in the heart of the Alshatei district, Head of Adair Real Estate, the project’s exclusive marketer, Mutaib Al Saad told the media.
It will offer indulgent experiences that are tailor-made for the unique need for each visitor. The site encompasses an archipelago of more than 90 pristine islands with a gorgeous landscape that comes with volcanoes and canyons. The destination is also said to be rich in cultural heritage and tradition where visitors will have the opportunity to explore the history of the region and experience first-hand the much talked about hospitality and culture of Saudi Arabia.
The project also puts a lot of emphasis on sustainability and will ensure that the natural beauty of the destination will attract the attention of the visitors for generations to come. From island gateway, to resort holidays, mountain retreats and desert adventures, visitors will have a plethora of options to choose from.
The islands are a haven of natural beauty. Only nine out of 90 islands have been designated as areas of special conservation interest and the other 75 will remain untouched.