MASKAN Arabia for Real Estate Development has launched preliminary excavation work at its new $133-million residential project in North Riyadh, Saudi Arabia.

Blom Invest Maskan Arabia will consist of 312 residential units, with construction expected to be completed by the end of December 2013. Commenting on the preliminary excavation works of the project, Hossam Al Rashoudi, CEO of Maskan Arabia Company, said: “Launching the preliminary excavation works of the new residential project came after the purchase of the project’s land in North Riyadh, which was completely financed by Blom Invest Maskan Arabia for Real Estate Development Fund allocated for developing the project in full.”

This project will boast a distinctive location, quality, durability and fine design, he added.