KAEC starts land sales for Miram housing community

King Abdullah Economic City (KAEC) will start promoting and selling today the first phase of the land plots in its new gated residential community, Miram, located in the Hejaz District in KAEC, it said in a statement.

The land sale will run from Nov. 30 until Dec. 2.

The project is the first full-fledged residential complex near the Al Haramain high-speed rail, which will launch operations in early 2018.

The development comprises 280 plots of land, each priced at SAR 358,000 minimum. Buyers should pay a deposit of 5 percent and the remaining sum will be settled in five-year installments, with no commissions.

"KAEC has lately attracted a lot of investors, job seekers and unit buyers. This is why we have launched Miram residential project", stated KAEC chief executive, Fahd Al-Rasheed.

The project enjoys advanced infrastructure in addition to an integrated set of facilities and healthcare services, he added.