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Source: cision | Published on: Tuesday, 29 August 2023
JEDDHA, Saudi Arabia, Aug. 29, 2023 -- ROSHN Group, Saudi Arabia's most trusted multi-asset class real estate developer, and PIF giga-project, today announced MARAFY, a transformative, mixed-use development in north of Jeddah that will accommodate over 130,000 residents with a 11-kilometre-long manmade canal at its centre.
MARAFY will provide a new waterfront around its manmade canal which will add a new destination to the north of Jeddah. The 11-kilometre long and 100-metre-wide navigable canal will connect to and extend Obhur Creek, will be surrounded by multiple unique districts, it is the first canal ever to be built in Saudi Arabia, and ROSHN's first fully mixed-use development.
David Grover Group CEO of ROSHN Group commented on the announcement: "It is core to us as a giga project to introduce such huge development to the kingdom, MARAFY will be a gamechanger on the real estate development sector, raising the bar of development in the region, boosting the quality of life, and creating a huge impact in Jeddah." He added: "It is a pride moment to announce the launch of MARAFY, our huge development in north of Jeddah. It's one of the iconic projects that will put Jeddah on the map of the world class destination on all aspects, and one of contributors to achieving VISION 2030 goals of creating a vibrant community and a thriving economy".
MARAFY's canal will provide a waterfront comparable in size to those of Chicago, Stockholm, Hamburg, and central London, bringing the marine environment into the heart of a historic city that has been welcoming traders, travellers, and pilgrims for centuries. MARAFY will breathe new life into Jeddah, creating an urban water corridor to link homes and communities with nature, commerce, and life-enhancing amenities. The development will strengthen Jeddah's position as a regional hub, with world-class residential, retail, lifestyle, leisure, and entertainment spaces built to attract residents and visitors alike, creating an instantly iconic new landmark in Jeddah.
MARAFY will be comprised of multiple distinct districts each with a unique character, including ROSHN's existing integrated residential development, ALAROUS. It will accelerate Jeddah's emergence as a global city while honouring the city's cultural and architectural heritage with facades inspired by the historical designs of Jeddah region and styles reinvented for today. It will reinterpret the contemporary urban context, incorporating liveable community spaces while retaining a connection to Jeddah historical heritage. MARAFY's diverse waterside districts will be connected to each other and the rest of Jeddah by an intermodal transport system, boasting water taxis, bus lines, a dedicated Metro Red Line station, and a direct canal link to the King Abdulaziz International Airport.
The announcement of MARAFY marks a major milestone for ROSHN Group as a giga-project. Under His Royal Highness the Crown Prince's guidance, the Group has embraced its mandate to emerge as a multi-asset class developer, intensifying its activities and becoming a national champion across a range of sectors in pursuit of Vision 2030's ambitious goals.
ABOUT ROSHN GROUP
ROSHN Group is Saudi Arabia's most trusted multi-asset class real estate developer, and a giga-project wholly owned by the Kingdom's Public Investment Fund (PIF). ROSHN's integrated developments offer a new way of living, supported by amenities within walking distance as well as green spaces, sports hubs, cycle lanes, and living beyond walls. Driven by technology, innovation, and sustainability, the Group is building at unprecedented scale with a land bank of over 200 million sqm. The Group launched its flagship 20 million sqm community in Riyadh, SEDRA, in 2021 and delivered homes ahead of schedule, becoming the Kingdom's first giga-project to deliver to customers. The Group went on to launch the 4 million sqm ALAROUS in Jeddah and announced two more integrated developments, WAREFA in Riyadh (1.4 million sqm), and ALFULWA in Al Ahsa (10.8 million sqm). By 2030, ROSHN will develop 400,000 homes, as well as 1,000 kindergartens and schools, and over 700 mosques. As a national champion across a range of sectors, ROSHN takes a human-centric approach to building sustainably, pursuing corporate excellence, and partnering with the best-in-class to set new standards in mainstream development.
For more information on ROSHN's new way of living visit ROSHN.sa
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View original content:https://www.prnewswire.co.uk/news-releases/marafy-a-global-sea-destination-lighting-the-shores-of-the-red-sea-301912683.html
