Tamimi Trading & Contracting Co (TIMCO) has revealed that almost 20 percent of the construction work on the Rawasen Residential Project has been completed. The construction project north of Yanbu Al-Bahr has completed 40 percent of Phase 1, which comprises 116 residential units, 52 townhouses and 64 apartments.
Due to the strategic location, the high standard of the facilities available in the community, including schools, mosques, a special health center with the latest medical technology and the most modern operating systems, there is a high demand for this residential project.
The development comes from the kingdom investing in real estate to strengthen the residential sector, following the guidelines of HM, the administrator of the two holy mosques, and HRH, the crown prince. The country is committed to providing Saudi nationals with the option of suitable accommodation and improving their quality of life, which is seen as one of the main goals of Saudi Vision 2030.
The Rawasen residential project was designed according to the highest security standards and comprises 690 spacious residential units with a capacity of approx. 3600 people. The project, approved by the Sakani program, was carried out in collaboration with the Ministry of Housing. The program offers nationals listed in the Department of Housing and Real Estate Development Fund a wide range of options to choose the type of accommodation that suits their needs and preferences, thereby strengthening the local real estate market and increasing the rate of ownership in the Kingdom.
Closely. Fahad Al Tamimi, Chairman of Tamimi Trading & Contracting Co. Ltd. (TIMCO) said: “The Rawasen Residential Project is an attractive destination for Saudi nationals looking for decent housing. The project hopes to live up to the social and environmental responsibility of developing an urban environment that allows locals to enjoy a better standard of living. “
He added: “We are moving the project forward. Around 40 percent of the first phase should be completed by the end of this year, which means that 16.4 percent of the entire construction work will have been completed by then. This realizes the vitality of Saudi real estate and contributes to urban development, which has received tremendous support from the government. Despite the challenges posed by COVID-19, we managed to develop the project according to the set schedule. We are fully committed to the safety and health of our employees and have taken all preventive measures. The Rawasen Residential Project is unique in design and inspired by traditional Saudi architecture. It is aimed at nationals looking for luxury apartments with comfort and privacy.
“This project is testament to our continued contribution to the expansion of KSA’s urban and residential sectors as demand in the property market will increase in the years to come following the pandemic.” Al Tamimi closed.
The Rawasen Residential Project is designed as a residential area that is in the immediate vicinity and connected by green spaces and streets for recreational activities such as cycling and jogging.
The project is known for its attention to detail in the high-end specifications taking into account the needs of Saudi nationals. It is an important initiative to boost the KSA’s housing sector, which is experiencing remarkable growth thanks to the unwavering support of HE Majid Al-Hoqail, Minister for Local, Rural and Housing Affairs.