The Knowledge Economic City (KEC) said 72 villas under the second phase of Dar Al-Jewar project were completed and will be delivered to buyers in Q4 2019, the company said in a bourse filing.
The contracting company will deliver another 87 villas by end of 2019.
The second phase units will be promoted via off-plan sales under the supervision of the Economic Cities Authority (ECA).
The company has sold 83 villas so far at a total value of SAR 180 million.
The project’s second phase comprises 207 villas, while the whole project will comprise 900 villas.
The second phase will bring up the number of total developed villas to 428.
The relevant financial impact will appear gradually upon the units’ sales.
Dar Al-Jewar, comprising 900 villas, is a residential project located five kilometers from the Prophet’s Mosque in Madinah, Argaam reported.
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