The mega Al Khuzama Community Project has officially been launched in Saudi Arabia. BATIC Real Estate, a fully-owned subsidiary of Batic Investment and Logistics Company, launched the project.
The project is developed under a signed agreement between BATIC Real Estate and AlMqe Development Company, an investment arm of Madinah Municipality. The agreement was signed in presence of Engineer Fahd bin Muhammad Al Bulahishi, the MAyor of Madinah.
Among senior BATIC Real Estate Company officials the CEO, Mohammed bin Saleh Al Mazyad was also present. Additionally, Majid bin Muhammad AL Shaihoub, the CEO of AlMqr Development was also in attendance.
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Al Khuzama community project development and expectations
The community will be developed on a 229,000 square meters piece of land. The site is located in Madinah, near Al-Masjid an-Nabawi (the prophet’s mosque).
Al Khuzama Community development is in line with the objectives of the country’s Vision 2030 goals. It aims to offer the latest and best amenities and facilities upon completion by 2024. The construction works are aimed to commence soon.
The project is also among qualitative projects aimed at achieving development within the city. The project also is focused on enhancing its residents’ quality of life. BATIC Real Estate revealed that the project’s launch brought up its portfolio to well about $133 million.
