RABIGH — King Abdullah Economic City (KAEC) is moving at an accelerated pace in delivering various projects to investors. In the latest development, the Economic Cities Authority (ECA) has delivered the ownership certificates to buyers of land plots at Al-Talah Gardens residential district in KAEC. The certificates were delivered immediately following the transfer of ownership procedures at ECA headquarters “the government authority responsible of the economic cities” based in KAEC. Muhanud Bin Abdul Mohsen Hilal, Secretary-General of ECA, pointed out that the Authority provides one of the most important services entrusted to it, which is to create a regulatory environment that enables real estate owners to register their properties and facilitate all related procedures to ensure the smooth flow of sales and acquisitions. Hilal went on to express his thanks to the minister of justice and the ministry's operational team for giving priority attention to the Authority and the Economic Cities. Fahd Al-Rasheed, Managing Director and CEO of KAEC, stated that the first release of documents of ownership issued by the ECA is a boost for the future development of KAEC, which will encourage property owners to invest in the city and take advantage of the real estate products and mortgage services. "We are delighted with this important step, which embodies the keenness of the ECA to support the development of KAEC through legislation and to enhance the spectrum of services that are offered to investors and the residents of the city, which are factors helping to accelerate the development processes in KAEC.” The development in Al-Talah Gardens neighborhood, which has a total area of more than 500,000 sq m, is currently at an advanced stage where the first phase of infrastructure works and services have been recently completed. Now, the receipt of approval from the Authority paves the way for owners to apply for construction permits. Al-Rasheed pointed out that Al-Talah Gardens is a unique housing solution offered by the city in accordance with an integrated economic strategy to meet the urgent need for residential units to suit different income levels. He went on to say that the residential neighborhoods have drawn praise and enthusiasm from residents of the economic city, as well as attracting the attention of mega projects adjacent to KAEC, such as Petro Rabigh and KAUST. Property owners in Al-Talah Gardens neighborhood can benefit from a free booklet of eight different architectural designs for their residential unit, which has been prepared by the management of the Department of Urban Development at KAEC. Development work at Al-Talah Gardens is under process on the infrastructure for Phases II and III, which will include international standard services such as water, sanitation, a rainwater drainage network, fiber-optics telecommunications, roads lighting and parks, maintenance services, security and safety. Al-Talah Gardens is located in the heart of KAEC overlooking two main roads linking the city's east side with the west, and the south side with the north. It offers a crescent Park stretching nearly 1 km walkway and bicycle paths meander through a naturally shaded garden landscape that connects people directly to the neighbourhood center. — SG
