Riyadh - Mubasher: Prince Salman bin Sultan bin Abdulaziz, Governor of Madinah, stressed during the inauguration of the "Sunset Destination" project that the project is a prominent witness to the rapid development witnessed by the real estate sector in the Kingdom.

The Sunset Destination project is located on an area exceeding 4 million square meters, and provides more than 6,000 residential units with modern designs inspired by the architectural style of Medina, according to the Saudi Press Agency.

The project also features a vibrant environment that includes green spaces and gardens with an area of more than 450 thousand square meters, which contributes to providing social and recreational spaces. In addition, the destination contains various facilities including 17 mosques, 16 schools, and 27 service and commercial centers.

Prince Salman pointed out that the project embodies an aspect of the leadership’s keenness to achieve the goals of the Kingdom’s Vision 2030, by enhancing the quality of life and creating sustainable urban environments that meet the aspirations of the population, while preserving the cultural and heritage identity of the region.

For his part, NHC CEO Mohammed bin Saleh Al-Batty explained that the company launched 39 projects in 17 cities in the Kingdom, with total investments amounting to 92 billion riyals. He stressed that these projects serve more than one million people.

Al-Batty revealed that the company has sold 88,000 housing units so far, and more than 50,000 Saudi families have lived in them. He also confirmed the company’s commitment to raising the rate of home ownership in the Kingdom to 70% by 2030, compared to 63% currently.

Al-Batty added that the company seeks to innovate and expand its project portfolio, as it manages 10 digital real estate platforms that serve more than 20 million customers, and accounts for 70% of real estate transactions in the Kingdom.

At the conclusion of the ceremony, the Emir of Madinah Region sponsored the signing ceremony of several real estate development agreements between NHC and investment companies, including: Innovative Real Estate Investments Company, Al-Inbat Contracting, Al-Sabq Al-Arabi for Trade and Contracting, Telad Real Estate, and Maskan Industrial.

These agreements aim to develop five projects within the first phase of “Sunset Destination”, according to the highest standards of quality and sustainability.

The agreements also included signing a partnership with Al Othaim Investment Group to develop the “Wahat Al Dar” project, which will include commercial facilities with an area of more than 65 thousand square meters, in addition to signing an agreement with Al Babtain Company to implement an electrical transformer station project and connection lines that feed the destination to meet its entire electrical needs.