Saudi real estate developer, Dar Al Arkan, has submitted a request to ETMAM, the Developers Services Centre at the Saudi Ministry of Housing, for the accreditation of three comprehensive development projects in Shams Al Riyadh, totaling over 1.936 million square meters.
The company also applied for the issuance of off-plan sales license for projects under construction in Shams Al Riyadh, according to a company statement.
The new masterplans involve three zones in the Shams Al Riyadh development, which is strategically located on King Khalid Road.
The comprehensive development in Zone 1 will be built over an 849,000 square metres area. The Zone 3 masterplan covers 449,000 and Zone 5 involves a 638,000 square metres area. Shams Ar Riyadh incorporates residential, commercial, and mixed-use spaces, overlooking Wadi Hanifa.
“We are confident that with the introduction of ETMAM, the overall approval for new projects will be accelerated to the benefit of all developers and stakeholders,” said the company’s chairman, Yousef Bin Abdullah Al Shelash.
“Working together with ETMAM, we can transform the new zones into distinct holistic, sustainable communities with active and vibrant lifestyles,” he added.
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