“The First Avenue” signs two agreements for two real estate projects in the Al -Shati neighborhood in Jeddah
A company announced "The first avenue for real estate development" Signing two separate agreements with each of "Real Estate Beach Fund"And"Laber Real Estate Fund"To develop two multiple uses (commercial/residential/hotel) projects, both of which are located in the city of Jeddah in Al -Shati district. "Saudi Arabia trading"Today, Wednesday, that "Real Estate Beach Fund" The development of a multi -use project (commercial /residential /hotel) will be on a land of 15,619 square meters in the Al -Shati neighborhood in Jeddah, noting that the contract period is 36 months from the date of the project’s construction license, with fees of 12% of the actual costs of the project, which will be determined later when the final designs are approved and the final license is issued. Architectural, extracting regular licenses, supervising construction work, and marketing the project. />
It is reported that the company owns units in the real estate beach fund equivalent to 14.9% of the fund’s capital.
