AlOula Real Estate launches sales of Ajdan Rise project

AlOula Real Estate Development Co. on Mar. 7 launched sales of Ajdan Rise project, as part of its Ajdan Waterfront Destination development in Al Khobar city, the company said in a statement on Sunday.

The 130 meter-high Ajdan Rise tower, which covers a total area of 6,826 square meters, is located on Khobar Seafront.

Ajdan comprises 187 residential units including penthouses, duplex apartments, and luxury apartments. It two clubs, nine indoor cinema halls, meeting and banquet halls, five-star hotel and shops.

Sales in Ajdan Rise residential tower exceeded 35 percent of total units. Construction works at the tower were almost 37 percent complete.

“Ajdan Rise residential tower reflects our commitment to developing unique real estate projects that offer high quality residential experiences and contribute to local communities’ development,” said Mohammed Alotaibi, chief executive officer of AlOula Real Estate Development.

AlOula signed four agreements for its retail village, Ajdan Walk. The first deal was closed with Alshaya Co. to inaugurate a chain of restaurants in the Eastern Province. The other deals were signed with Eastern Trading & Contracting Co., Burger Boutique Black and Dose Café.  

AlOula is currently developing Ajdan Waterfront Destination on Al Khobar corniche. The project features five major elements: Ajdan Rise residential tower; Ajdan Walk; Ajdan Cinema; five-star Ajdan Hotel in addition to public facilities. Ajdan Waterfront Destination is set to transform Al Khobar city into one of the most maritime destinations in a vibrant and ambitious country.  

AlOula was established in 2002 and is owned by Al Fozan Group and Al Muhaidib Group.