Alargan Tasks Firm, in partnership with Korea’s GS REDC, has formally introduced the launch of Oasis Residence, marking the primary Saudi–Korean residential growth within the Kingdom. The announcement was made through the venture’s opening gross sales ceremony in Riyadh, underscoring a milestone in Saudi Arabia’s evolving residential sector and the rising position of worldwide collaboration within the native market.
The launch represents a brand new mannequin of worldwide collaboration in Saudi Arabia’s residential sector, reflecting the mixed strengths of Alargan’s native market experience and the GS REDC’s worldwide residential growth expertise in delivering housing aligned with the evolving wants of Saudi households.
Alargan’s growth imaginative and prescient strengthened via international partnership
OASIS RESIDENCE is situated on Al-Thumamah Highway in north Riyadh and contains 182 fashionable semi- furnished residential flats designed in step with up to date city ideas, providing sorts of unit sizes vary with costs ranging from SR787,000.
The event options expansive inexperienced areas and totally built-in facilities, together with a health middle, residents’ lounge, youngsters’s play space, café, non-public basement parking, and group amenities. Particular emphasis has been positioned on building high quality, with structural warranties of as much as 10 years, reflecting a long-term dedication to sturdiness, high quality, and sustainability.
On this event, the CEO of Alargan Tasks Firm Eng. Eyad Albunyan emphasised that the Gross sales occasion launch of Oasis Residence marks a key milestone within the firm’s journey, noting that the partnership represents a significant addition to Alargan’s venture portfolio.
He said: “We’re proud to launch the first-day gross sales of Oasis Residence, the primary Saudi–Korean residential venture within the Kingdom. The venture displays Alargan’s technique to develop built-in communities that improve high quality of life. Our partnership with GS REDC has enabled us to include worldwide residential growth experience tailor-made to the Saudi market, setting a brand new benchmark for contemporary dwelling.”
Part 2 of Oasis Residence underway
Constructing on the success of the primary section, Alargan Tasks Firm and GS REDC have commenced building of Oasis Residence Part II, which can ship a further 248 residential items. The second section follows the identical growth philosophy because the preliminary venture whereas responding to rising demand for high-quality house dwelling in northern Riyadh.
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With each phases mixed, Oasis Residence is predicted to emerge as a outstanding residential group contributing to the diversification and modernization of the town’s housing provide.
GS REDC’s increasing position in Saudi Arabia’s housing sector
GS REDC, the true property growth arm wholly owned by GS Engineering & Building (GS E&C) —a worldwide building group with greater than 50 years of residential growth expertise in Korea — brings worldwide planning and growth experience to the partnership.
Working intently with Alargan, the corporate has utilized this expertise to ship a venture tailor-made to the Saudi market, whereas introducing a refined contact of Korean residential design and way of life to Riyadh.
Past Oasis Residence, GS REDC can be collaborating in a serious Nationwide Housing Firm–led residential growth of roughly 2,500 house items, reflecting rising confidence within the firm as a associate throughout each non-public and government-led housing initiatives.
The Basic Supervisor of GS REDC Woongjo Choi famous that Saudi Arabia represents one of many firm’s key strategic worldwide markets. “Oasis Residence marks the start of a brand new section for GS REDC’s presence within the Kingdom’s residential growth sector. Via this partnership, we intention to switch the idea of built-in communities and the ‘all-in-one’ mannequin to the town, supporting the Kingdom’s long-term housing targets. GS REDC stands as the primary and stays the one Korean developer to enter the Saudi housing market. With the gross sales launch of this venture, GS REDC has firmly established its place as a bona fide international developer in Saudi Arabia. Transferring ahead, we intend to actively pursue a speedy transition into high-rise hyper-end flats, city growth initiatives, and government-led giga-projects.”
A Saudi-led mannequin for worldwide collaboration
The launch of Oasis Residence highlights a Saudi-led growth mannequin wherein native builders take the lead whereas collaborating with skilled worldwide companions to raise planning, design, and execution requirements. Via this strategy, Alargan Tasks Firm continues to strengthen its management place within the Saudi residential growth sector whereas contributing to the general development of housing high quality within the Kingdom.
