700 housing units at Bawabat Tiba project to be handed over in 2020
Posted on 8th February 2019
According to *Tradearabia news report, Saudi-based Al Mosoqoon Real Estate Company for Investment and Development said work is progressing as per schedule on its Bawabat Tiba residential project coming up over a 133,980-sq-m area in the Madinah region of the kingdom.
All the 700 housing units at Bawabat Tiba project will be handed over to the beneficiaries of the Ministry of Housing’s Sakani programme by December 31, 2020, it stated.
The Saudi group had recently celebrated the successful booking of a total of 249 housing units in the Bawabat Tiba project.
CEO Mohamad Mutawalli said the construction was currently under way on the project, which is being developed in co-ordination with the land owner Al Nahla Trading and Contracting Company (Al Nahla Group).
The scope of work includes all infrastructure services (sanitation, water works, electrical works, telecom works, lighting, roads and paving, and landscaping works) as well as a variety of public amenities (four schools for boys and girls, three kindergartens, three mosques, gardens, a health centre, and one parking lot for each residential unit). The development also features a shopping district, with a myriad of stores,” he added.
As per the deal, the duo will develop, build and market the project in partnership with the Ministry of Housing.
The project comprises a total of 700 residential units of different sizes (ranging from 131 to 328 sq m) and design, at prices starting from SR297,450 ($79,284) with subsidised monthly instalments starting from SR1,200 ($320) per month, he noted.
“The development includes several low-rise buildings spread over two to four floors, with two apartments per floor. This means fewer dwellers, enhances communication between residents and ensures improved privacy and intimacy, compared to other eight-floor developments,” stated Mutawalli.
The project is in close proximity to several landmarks and service facilities like the Haramain High-Speed Railway Station, Mount Uhud and Taibah University.
Thanks to its location, the Bawabat Tiba project is in big demand, said the top official. "It is situated on the eastern side of Madinah in close proximity to the main airport road that is connected to the Al Masjid Al Nabawi, 7 km from the mosque and 3 km from Prince Mohammad bin Abdulaziz International Airport," he added.
*News source: http://tradearabia.com/news/CO...
Related project: Bawabat Tiba Residential Complex in MadinaBack to all Construction News
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