Timco completes 40pc work on Phase One of Saudi residential project

Publish March 23, 2021
real estate

Tamimi Trading and Contracting Company (Timco) has announced that nearly 40 per cent of the work has been completed on Phase One of its Rawasen Residential Project coming up in north of Yanbu, Saudi Arabia.

Located north of Yanbu Al-Bahr, Rawasen Residential Project will feature a total of 690 spacious residential units catering to 3,600 occupants.

The project is unique in its design, inspired by the Saudi traditional architecture, and is being implemented in two phases with Phase One boasting a total of 116 residential units being developed along with 52 townhouses and 64 apartments.

Designed as per the highest safety standards, Rawasen Residential Project is targeted at nationals looking for luxury apartments with comfort and privacy, said the statement from Timco.

It has been approved by Sakani programme and is being implemented in partnership with the Ministry of Housing.

The development comes at a time when the kingdom is investing in real estate to bolster the residential sector in line with the directives of King Salman and HRH the Crown Prince Mohammed Bin Salman.

The country is aiming towards offering Saudi nationals the option of suitable accommodations and to enhance their quality of life, which is considered as one of the main goals of Saudi Vision 2030, it added.

Timco said there is high demand for this residential project, given the strategic location, high standard of facilities available within the community including schools, mosques, a dedicated healthcare centre equipped with latest medical technology and up-to-date operational systems.

Timco Chairman Engineer Fahad Al Tamimi said: 'Rawasen Residential Project is an attractive destination for Saudi nationals looking to own adequate housing. The project hopes to live up to the social and environmental responsibility of developing an urban environment facilitating a better standard of living for the locals.'

Al Tamimi pointed out that around 20 per cent of the project has been completed despite the Covid-19 challenges.

'Even in a pandemic situation, we managed to continue developing the project according to the specified schedule. We are fully committed to ensure the security, safety and health of our employees and workers and have all preventive measures in place,' he stated.

According to him, Rawasen Residential Project is unique in design and is inspired by the Saudi traditional architecture.

It targets nationals looking for luxury apartments with comfort and privacy, stated Al Tamimi.

'It has been designed as a residential neighbourhood connected by green spaces and roads made for leisure activities such as cycling and jogging. The project is known for its accuracy in detail in the high-end specifications keeping in mind the needs of the Saudi nationals,' he added.

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