Injaz seeks institutional investors and partners

Injaz Development Company said yesterday it had received approvals for its Al Marina project in the Eastern Province and Al Gamra, a residential project, in Riyadh. Injaz is a Saudi capital-based master developer and investment company.

After the approvals, Injaz is promoting the projects in Saudi Arabia at Cityscape to investors and potential sub-developers and partners.

"We are open for business here. At Cityscape Dubai, we are talking to institutional as well as individual investors and potential partners who would be interested in developing and constructing hospitals, schools, shopping malls as well as residential facilities at Al Marina," said Injaz Managing Director Omar Abdullah Al Kadi.

Injaz, which has positioned itself to be a master developer in Saudi Arabia, has pledged to raise the quality level in the Saudi market with a customer-focused strategy and by partnering with world-class companies.

Al Marina is a master-planned community to be spread over 3.3 million sq m on the Al-Khobar-Dammam coastal corridor. Projected to be a major landmark in the Eastern Province, Al-Marina will house 45,000 residents supported by community amenities such as schools, healthcare facilities, mosques, recreation and commercial facilities.

The project will consist of about 636 single-family villas and 15-storey luxury apartment blocks spread over 250 plots. All the luxury apartment towers will offer access to the waterfront as well as ample dedicated parking space. The site is bordered by the new King Faisal University to the south, residential buildings to the north and the Arabian Gulf seafront to the east, which will form part of the new corniche between Dammam and Al Khobar.

Al Marina will have easy access from both the King Saud Road running east-west and the King Faisal Highway north-south. The development will include a road hierarchy that reflects government best practice, providing landscaped streets and boulevards that range from 18 to 60 metres wide.

"When we planned Al Marina, our objective was to come up with a world-class development in the kingdom that offers quality lifestyle, walkable community-focused neighbourhoods and focal points for social interactions. Al Marina will be a trend setter in Saudi Arabia, with its focus on community living and the balance of free and open spaces, green areas and community care facilities," said Al Kadi.

He added about 41.4 per cent of the 3.3 million square metres will be allocated for residential and commercial purposes, 42.2 per cent for public service spaces and more than 16 per cent for government services.

"We are aiming to get the best for Al Marina. We want quality education institutions, healthcare providers and shopping malls and other retail outlets to be located at Al Marina," said Injaz managing director.

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