JEDDAH – Ewaan Global Residential Company has announced that start of Phase 2 of Alfareeda Residential Project, the real estate development designed to provide affordable high quality housing for middleclass Saudi citizens intending to make their future in the upcoming district of New Jeddah. Making the announcement, Fahad Al-Mutawae CEO of Ewaan Global Residential Company, said: “Phase 1, consisting of 324 residential units, offers four types of villas in various sizes and different architectural styles, while Phase 2 consists of 460 residential units and is scheduled for completion by the end of 2013.” “We enter the second stage of Alfareeda on a high note following the great success of Phase 1, where the onsite show villas are attracting the attention of our target audience; middle income Saudi citizens who want to get away from the overcrowding and traffic congestion of Jeddah and start a new life where their young families can grow up in a calm and beautiful environment that offers a high quality lifestyle complete with superior facilities and every modern amenity,” Al-Mutawae added. Valued at over SR1.8 billion, Alfareeda residential project occupies one million square meters of land and is a small city in its own right consisting of more than 1,800 residential units supported by an advanced infrastructure and service facilities that include state of the art telecommunications, an effective drainage system and rain bypass tanks, and a systematically planned road network designed to avoid traffic congestion. Alfareeda is the largest project of its kind in the number of residential units and includes high standard educational and medical facilities, mosques, a shopping center, a sports club and a Health club which the company recently decided to increase its size to suit the mass of the project, all set among landscaped green spaces, providing residents with a superior quality lifestyle experience in keeping with the culture and traditions of Saudi society. Residents of Alfareeda have the advantage of the project's strategic location close to major institutions that have chosen New Jeddah as their home, such as King Abdullah Hospital, Al-Thuraya University, Batarjee Medical College and the University of Technology and Business (UTB), while projects currently under construction are the new sports stadium and The Kingdom City which will have the world's tallest tower that is already in the very first stages. Concluding the announcement of the start of Phase 2, Fahad Al-Mutawae said: “Buying a home in Alfareeda represents a wise long-term investment in a real estate property located in New Jeddah, the area that is destined to become the most fashionable and desirable place to live in the northern urban extension of the Kingdom's commercial capital.” – SG
