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Saudi Arabia launches $633m villa community development


Saudi Arabia has started work on Madinat Al Wouroud, a SR2.38-billion ($633 million) residential development coming up over a sprawling 6.3-million-sq-m area in Taif region of the kingdom, said a report.

The residential community development will feature a total of 4,775 villas, with starting prices of SR499,000 ($132,813), reported Saudi Press Agency (SPA), citing Taif Governor Saad Al Maimouni.

The housing ministry has 67 projects under construction across the kingdom, which, on completion, will add 122,000 apartments, villas and townhouses to the market, said the report.

Of these, work has started on 55 projects that will provide a total of 100,000 residential units, it added.-TradeArabia News Service

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