SEDCO Development, one of the pioneering Jeddah based real estate developers and a subsidiary of SEDCO Holding Group, signed with Dar Al Wessal, a company specialized in marketing residential projects, to market its residential units. These units pertain to the AlAhli SEDCO Residential Development Fund and are located in the Salamah District 2 in Jeddah.
With a wide expertise in the Saudi real estate market, SEDCO Development is executing this project on a 25.934 sqm plot of land, which was previously acquired by the fund through SEDCO development, the main developer. This project consists of approximately 372 Residential units with different dimensions thus fulfilling the rising demand in the sector of residential units in Jeddah.
According to the CEO of SEDCO Development Company, Engineer Khalid Jamjoom, the distinguishing factor of this project is its proximity to key points in Jeddah, such as Al Madinah Road, Heraa and Quraish streets, providing easy access as well as its distinct design for the project, fulfilling all requirements for residential environments aligned with the community’s privacy.
This project is considered one of the typical residential projects targeting those with middle to upper income home buyer especially in terms of what is offered in the real estate market when it comes to design, planning and the distribution of parks and green areas.
NCB Capital has previously announced that this close-end investment fund aims to develop the existing capital and achieve yearly internal revenue for investors worth 10 percent.