Saudi group Ajdan launches $66.5m lifestyle project in Al Khobar
RIYADH, October 17, 2022
Ajdan Real Estate Development Company, a leading lifestyle destination developer in Saudi Arabia, has announced the launch of Bayfront, a SR250 million ($66.5 million) project in Al Khobar that offers a mix of retail and leisure amenities.
Unveiling the new venture, Ajdan said it will also include the kingdom's first Blue Flag-certified international standard beach.
The Blue Flag standards include stringent international technical and environmental requirements and conditions compatible with the Kingdom's principles in supporting the environment's safety and promoting its recreational and tourism credentials.
The Saudi group has signed up Al Muhaidib Group for the development, marketing and operation of the Bayfront.
It will be located on the northern part of Al Khobar's beach, spanning over 100,000 sq m area from the shore and a 1,600-square meter island.
On the key project, Abdul Qadir Al Muhaidib, Senior Portfolio Manager at Al Muhaidib Group, said: "Bayfront will offer a mix of retail, upper casual and fine-dining restaurants as well as leisure and recreational features that are suitable for families and visitors to enjoy beach life on the stunning east coast."
Ajdan Real Estate Development Company CEO Mohammed Al Otaibi said: "Bayfront offers exceptional quality-of-life to transform Al Khobar into one of the top 100 global cities which is one of the Saudi Vision 2030’s realisation plans."
"We will follow the Blue Flag requirements to increase the quality of services in the project's facilities and enhance the region's beach experience by developing an extraordinary destination to attract visitors to Al Khobar," he added.-TradeArabia News Service