Saudi-based developer Wathrah Real Estate Development Co. has announced plans to build 20,000 residential units across the kingdom, which will be located in Jeddah, Riyadh and the country’s eastern province.
Wathrah said in a statement that it will coordinate with a US-based construction and engineering firm to carry out the projects.
The two companies were said to be in talks with local banks to secure funding for the projects. Designs and project timelines are also being finalized.
Wathrah, a subsidiary of Saudi conglomerate Al Muhaidib Group, specializes in infrastructure development. The developer has carried out several projects in Jeddah, including Salman Bay Development, Konouz Jeddah Development, and Al Durrah Development.
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