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Residential Complex Development Project (Apartments)
The project aims to develop a residential complex consisting of apartments of various sizes and designs in a strategic location within the city, to meet the growing demand for modern residential units. The project will include an innovative design that includes facilities such as swimming pools, sports clubs, children’s play areas, and parking lots, providing an integrated residential environment for residents. The project will contribute to strengthening the local housing sector and provide housing units that suit different segments of society. The project will also provide employment opportunities in construction, management, and operation. The complex will serve multiple groups, from small families to employees working in nearby areas.
Study content
Rationale for choosing the project
Growing demand for housing units: The Kingdom is experiencing rapid population growth, especially in major cities such as Riyadh, Jeddah, and Dammam, which increases the demand for housing units.
Young couples and young families are the largest group of housing seekers, especially in major cities such as Riyadh, Jeddah and Dammam.
Government support for the housing sector: Programs such as “Sakani” and “Developmental Housing” aim to increase the rate of homeownership, which boosts investment opportunities in residential complexes.
The trend towards integrated residential complexes: Many people prefer to live in residential complexes that include facilities such as sports clubs, parks, schools, and shops for a better quality of life.
Demand analysis
Target markets:
Saudi families, expats, and professionals working in major cities.
Real estate development companies looking for partnerships or joint investments.
Market trends:
Demand for residential real estate is expected to grow by 5-7% annually, driven by population growth and social transformations.
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