SEDCO HOLDING GROUP COMMENCES THE DEVELOPMENT OF AL-NAWRAS AT JEDDAH CORNISH

As part of its strategy to develop future projects which come in line with Saudi Arabia’s 2030 vision and the National Transformation 2020 that aims at developing pioneer investment projects within a variety of real estate investments, SEDCO Holding Group is currently developing Al-Nawras project in Jeddah,. The new project is an offshore destination offering a unique lifestyle experience with a mix of restaurants, cafes, shops and entertainment. SEDCO Holding Group owns the project and SEDCO Development Company will be developing the project while Intimaa will be providing leasing and operating services.

Al-Nawras project is located near Al-Nawras Square, at the intersection of the Corniche Road and Prince Nayef Street in Jeddah, on a 32,000-square meter plot of land across various public and private real estate and other infrastructure projects. The project provides an area of ​​ 15 thousand sqms allocated for different shops spread over three floors with a magnificent view of the Jeddah Corniche while having outdoor and indoor seating areas to please all visitors. It is also connected with the recreational and exterior public areas and service facilities. The project offers the opportunity for a new great experience.

“Whereas Al-Nawras project is part of SEDCO’s investment strategy as to contribute to Saudi’s real estate development, we are also targeting the expansion of our direct investments portfolio. Our previous projects were successfully accomplished and Al-Nawras will also have its own milestone to be added onto our business, due to our operating and managing partners’ efforts and internal teams as well. Our agreement with each of SEDCO Development and Intimaa, will drive another case study within this industry as we see positive expected and planned attainments”, said Anees Moumina, CEO of SEDCO Holding Group.

Al-Nawras project offers a new experience through a variety of facilities, including a range of restaurants, outdoor leisure areas, visitors’ services, a hotel, offices and a residential complex. The final project is a unique landmark on the Jeddah Cornish.