Local housing developer Alargan Homes is targeting foreign homeowners in its Al-Murjana housing project in Dammam. It is believed to be the first housing development in Saudi Arabia specifically marketed to the expatriate community.
The estimated $100m project consists of 400 luxury and affordable villas and is located on a site equidistant from the Eastern Province cities of Dammam and Al-Khobar.
“This [project] was a strategic decision. We realised that with the large presence of Aramco workers in that part of the country, there is a need for homes for foreigners. We also realised that that need is not currently being met,” said Ahmad Ali Khaled, general manager of Alargan Homes.
According to Khaled, designs are complete on the project and contractors will be invited to submit bids for the main construction contract in July this year. Delivery is expected for 2014 but a more specific date could not be confirmed.
The 112,000 square-metre development will include townhouses and villas ranging in size from 240 to 400 sqm. The project will also include a shopping mall and community centre.
Alargan Homes is a subsidiary of Alargan International Real Estate Company. Its sister company Alargan Arabian Project Management Group is managing Al-Murjana.