Jeddah to build $40 million mixed-use towers

 | April 09, 2015

undefinedSloanes Real Estate Brokers, a subsidiary of the Sabban Group of Companies has unveiled its plan to become the exclusive agent for a residential development titled Bayat Plaza in Jeddah.

Located off the intersection of Madinah Road and King Abdullah Road in Jeddah, the Bayat Plaza project is being developed by Manazil, Sabban's development arm at the cost of $40 million (SR150m).

The project will include two towers that will offer 272 luxury apartments including duplexes and penthouses. Bayat Plaza residents will have more than 1600 sqm of retail space spanning across two lower levels. This will include a market, cafés and food outlets, boutiques and a gymnasium.

undefinedArron Browne, Group Sales and Marketing Director at SABBAN Group of Companies said: "The launch of Bayat Plaza project is a significant milestone for Sloanes Saudi Arabia and we are excited to introduce a world class real estate development in the Kingdom. With its sleek external architecture, Bayat Plaza development will emerge as one of the most iconic and recognizable developments that will not only transform the skyline of Madinah Road, but also add significant aesthetic and convenience value to the entire neighbourhood."

A full mock-up Bayat Plaza apartment will be available for viewing at the soon to be inaugurated Sloanes Real Estate Showroom on Sari Street. 

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Browne said: "The property market in Saudi Arabia has witnessed resurgence leading to renewed optimism and at SABBAN Group, we have been closely monitoring this trend. We are confident that this is an opportune time to launch a project like 'Bayat Plaza' that offers new levels of refinement for consumers in Saudi Arabia."

Sloanes Real Estate KSA is branch of Sloanes Real Estate in Dubai, UAE. Prices for apartments at Bayat Plaza start from SAR1, 000, 000 and the development is expected to be complete by the end of 2016.

Interested buyers can take advantage of off-plan sales from April 2015.

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