Tamimi Trading & Contracting Co Unveils Sustained Interest for Units at Phase 1 of Rawasen Residential Project in North Of YANBU
In cooperation with Esrar Real Estate Consultancy, Tamimi Trading & Contracting Co Ltd (TIMCO) has revealed that home buyers continue to show interest in Phase 1 of the Rawasen Residential Project and more units are being sold to the market. Strategically located north of Yanbu Al-Bahr, the project is an attractive asset with key competitive features, including spectacular sea views.
This major development supports the government’s efforts to achieve the goals set in the ‘Saudi Vision 2030’ in line with the directives of HM the Custodian of the Two Holy Mosques and HRH the Crown Prince. The project forms part of the company’s collaboration with the Ministry of Housing and was approved by Sakani, the national program dedicated to enabling Saudis registered with the Ministry of Housing and the Real Estate Development Fund to select the accommodation type that meets their needs and preferences.
Rawasen Residential Project significantly boosts the momentum to stimulate growth in the housing sector following the support of H.E. Majid Al-Hoqail, Minister of Municipal and Rural Affairs and Housing in efforts to drive the market and play a major role as a contributor to enhancing the Saudi community’s welfare and quality of life.
The uniquely designed project comprises 400 spacious apartments and 290 townhouse units to meet the needs of Saudi families, with a total capacity of about 3,600 occupants. It offers an integrated community provided with key facilities, such as a business boulevard, schools, mosques, and a medical center fitted with advanced medical facilities.
It also provides strategic road connections, landscaping, and shopping areas, including entertainment and recreation choices, thereby enhancing the project’s position as a destination of choice for all citizens.
Eng. Fahad Al Tamimi, Chairman, Tamimi Trading & Contracting Co Ltd (TIMCO) said: “Rawasen Residential Project is an important addition to TIMCO in line with our mission to build several vital projects that contribute to shaping the future of the Saudi real estate and urban landscape. It combines a unique architectural design with traditional and local structures to offer an ideal destination for residents to enjoy a high-end lifestyle. It is currently witnessing a remarkable turnout of citizens looking to purchase residential units of various spaces and designs that conform to the highest international standards in terms of luxury, comfort, quality, and efficiency. The project embodies a new vision to live within a safe and healthy environment that provides the ideal multiple housing options.”
He added: “Today, the real estate sector is emerging as one of the most vital sectors supporting the national economy. It is the main pillar of the country’s development led by the Kingdom at all levels in line with the continuous support of the government of the Custodian of the Two Holy Mosques. We at TIMCO, seek to contribute to this development by launching pioneering real estate projects that meet the goals of Saudi Vision 2030 to build a thriving, more diversified, and sustainable economy.”
“We work hard to always meet the highest standards of innovation and quality in all our projects, and ensure we meet them with excellence in line with our priority and core values. We appreciate the leadership of H.E. Majid bin Abdullah Al-Hoqail Minister of Municipal, Rural Affairs, and Housing, who was able to competently and effectively translate the strategy of the Custodian of the Two Holy Mosques and H.R.H. the Crown Prince, and the attention and follow-up that His Excellency exerts to support the development of the housing sector in Saudi, and increase the momentum of real estate activities,” Al Tamimi concluded.
Mohamad Rabih Itani, CEO of Esrar Real Estate commended the success of its strategic partnership with TIMCO, the developer of Rawasen Residential Project. He added: "We are proud to continue working with TIMCO, which has been leading in the development of several major real estate projects. We are pleased to witness the success of this vital project following the fruitful cooperation between both parties.”
Al Tamimi & Company
Our clients are at the heart of everything we do. Founded in 1989, we are the largest corporate law firm in the UAE and throughout the Middle East with more than 350 professionals in 17 offices across 9 countries. We’re determined to use our knowledge, experience and intellectual rigour to find innovative solutions to overcome complex business challenges. We actively encourage diversity and inclusion, enabling us to attract and retain the best talent, to ensure our clients succeed. We’re an integrated global corporate law firm with significant depth and resources, offering a full suite of legal solutions to deliver world-class legal advice in key global sectors.