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For 950 million riyals... Ajlan & Bros Group buys land on Half Moon Beach in Al-Khobar, with an area of 4 million square meters.

Ajlan & Bros Holding Group purchased a plot of land with an area of 4 million square meters located on Half Moon Beach in Al-Khobar, Eastern Province, in a public auction, in order to develop it as a residential and commercial project that contributes to achieving the goals of the Kingdom’s Vision 2030.
According to available information, the price of a raw meter was 218 riyals, with a total value of 950 million riyals, including value-added tax. It is expected that the residential side of the upcoming project will provide about 8,000 housing units, as the infrastructure in the project will be developed within two years at a value of up to 500 million riyals.
It is noteworthy that this land is an extension of the plot of land that the Group had previously purchased in the Eastern Province last July, and its area is about 14 million square meters, with a value of 2.8 billion riyals. It is located near the Ajyal plan of Aramco, in the middle between the cities of Khobar and Dhahran and is also close to Dammam (the capital of the Eastern Province and its most prominent city). 
Preliminary information indicates that residential cities, commercial and health activities are scheduled to be built thereon, in addition to green spaces that keep pace with the requirements of the goals of increasing the quality of life and fulfilling the desires of the target customers.
The real estate projects of Ajlan & Bros Group are in line with the real estate growth witnessed by the Kingdom to keep pace with the increasing demand for residential units, especially in promising economic areas, considering the projects aimed at expanding the Kingdom’s economy and attracting international companies to the Saudi market.
In the past two years, Saudi Arabia announced a package of measures aimed at increasing commercial and economic activity in the country and attracting major international companies to open their main branches in the Kingdom, in addition to the expected population boom in major cities such as Riyadh, Dammam, Mecca, and Madina.

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