As part of its strategy which comes in line with Saudi Arabia's 2030 vision and the National Transformation plan 2020 that aims at developing pioneer projects within a variety of real estate investments, SEDCO Holding Group is in the process of developing “Al-Nawras” in Jeddah. The new project is a destination offering a unique lifestyle experience with a mix of restaurants, cafés, shops and recreational facilities. SEDCO Holding Group owns the project and SEDCO Development will be developing it while Intimaa will be providing leasing and operating services.
“Al-Nawras” is located near Al-Nawras Square, at the intersection of the Corniche Road and Prince Nayef Street in Jeddah, on a 32,000-square meters plot of land across various public and private real estate. The project provides an area of 15 thousand sqms allocated for different shops spread over three floors with a magnificent view of the Jeddah Corniche to please all visitors. Additionally, having outdoor and indoor seating areas, the facility will be seamlessly connected with exterior public areas and service facilities. “Al Nawras” offers the opportunity for an unsurpassedexperience.
Anees Ahmed Moumina, CEO of SEDCO Holding Group, said; “While Al-Nawras project is part of SEDCO's investment strategy to contribute to Saudi’s real estate development, we are also targeting the expansion of our direct investments portfolio. “Al-Nawras” will be a milestone on its own to be added onto our business portfolio; and this is due to efforts of our operating & managing partners and internal teams. Our agreement with SEDCO Development and Intimaa, will drive another case study within this industry as we see positive developments”.