RIYADH — “Northern Riyadh is emerging as the key center of new investments in Saudi Arabia, gaining more momentum across its business and urban landscape with the massive potential and promising opportunities it offers through a wide range of real-estate solutions and undertakings,” Omar Al-Kadi, CEO and Managing Director, Injaz Development Co., said Tuesday in announcing the successful auction of Al Gamra 10's development plots in the area. “Supported by the newly issued Saudi Mortgage Law and its relevant value-added real estate services, the launch of Al Gamra 10 project is poised to drive further growth with the execution of the real estate auction process which plays a significant role in activating the real estate industry while promoting confidence and actuating the sales of commercial and residential schemes in the region,” he noted. “Closing Al Gamra 10 auction in less than three hours reaffirms Injaz's leadership in selection of top-tier projects that meets the market demand and provides the best offering in terms of position and space, and also highlights the company's vision that complements the Kingdom's real estate plan, especially in the city of Riyadh”, Al-Kadi added. Occupying an area of 566,000 square meters, Al Gamra 10 is one of the blocks comprising the “Al Gamra Project” which is strategically located at the North of the Northern Ring Road and beside King Fahd Road on Abu Bakr Alseddig Road. Al Gamra 10 offers ready-to-occupy plots for residential and commercial buildings and malls, providing a well-developed infrastructure of electricity, water, lightening and transport, and is specifically designed to complement the growing investment and housing needs in Northern Riyadh. The project is accessible through a network of main roads and is close to some of the key landmarks in Northern Riyadh, such as Imam Muhammad Ibn Saud Islamic University, King Khaled International Airport, King Abdullah Financial Center and Princess Noura Bint Abdulrahman University. Al Gamra Project is a 2,595,500 sqm development with easy access to a network of roads, while being close to North Riyadh project of the High Commission for the Development of Arriyadh. It also enjoys an advanced infrastructure including green spaces and wide sidewalks that meet the latest standards and specifications. — SG
