Midtown Project
The show villa at the Tiraz Avenue project was inaugurated on Monday, November 23, in the presence of the CEO of Saudi Fransi Capital, Mr. Waleed Fatani, and members of the Board of Directors of Tiraz Al-Arabia, Mr. Abdullah Al-Sarhan, Dr. Mamoun Al-Muneef, and the Executive Partner, Mr. Qusai Abdullah Al-Fakhri.
Mr. Waleed Fatani, CEO of Saudi Fransi Capital, announced the near completion of the Tiraz Avenue project during the ceremony held yesterday to launch the model villa, “the show villa,” at the Tiraz Avenue project, one of the real estate projects of the Saudi Fransi Real Estate Fund, which consists of 54 villas located in the northwest of Riyadh.
The project is the result of a strategic partnership between Saudi Fransi Capital through its investment fund, “Saudi Fransi Real Estate Fund,” a closed-end investment fund compliant with Shariah regulations, and Tiraz Al-Arabia as the developer and marketer. The ceremony was attended by the CEO of Saudi Fransi Capital, Mr. Waleed Fatani, Mr. Qusai Al-Fakhri, Executive Partner of Tiraz Al-Arabia, and members of the company’s Board of Directors. During the event, Mr. Fatani highlighted some of the project’s features, stating, “The project has been developed on a land area of 18,600 square meters, with ten different modern designs distributed over plots of 300, 375, and 450 square meters, with built-up areas ranging from 337 to 570 square meters. The project includes essential and recreational services such as swimming pools, green areas, and basements, providing an ideal living environment for residents.”
The project’s location is distinguished by its tranquility and the availability of vital services and facilities. It is situated in the Arqah area, northwest of Riyadh, with direct connections to main roads, modern commercial centers, and the Diplomatic Quarter. Mr. Waleed Fatani, CEO of Saudi Fransi Capital, further stated, “We are grateful to celebrate the launch of one of the Saudi Fransi Real Estate Fund’s projects, with more than 71% of the project completed. We expect the sales phase to begin in the first quarter of 2016. The Tiraz Avenue project is one of the projects financed by the Saudi Fransi Real Estate Fund.” He added, “We always strive to achieve the goals of our clients by providing rewarding and Shariah-compliant profits through these pioneering projects.”
