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Saudi Arabia is embarking on an ambitious mixed-use megaproject near Jeddah, and at its heart is an impressive 11-kilometer canal. Roshn Group, Saudi Arabia's largest developer and owned by the country's Public Investment Fund, is behind this grand undertaking known as Marafy. Once completed, Marafy is expected to be home to over 130,000 residents.
What sets this project apart is the canal, which is 100 meters wide and is poised to become Saudi Arabia's first-ever navigable canal. It will be bordered by scenic promenades and will serve as the focal point for various residential and commercial districts. The canal is slated to create a waterfront area that rivals some of the world's major cities, such as Chicago, Hamburg, and central London. To enhance its accessibility, the canal will feature water taxis and offer a direct link to King Abdulaziz International Airport.
While the exact cost and completion date of this massive project remain undisclosed, it has certainly captured the attention of many. David Grover, CEO of Roshn Group, describes Marafy as a "game-changer in the real estate development sector" and envisions it as one of the iconic projects that will elevate Jeddah to the status of a world-class destination.
Roshn Group was established with the aim of making long-term investments throughout Saudi Arabia by developing residential communities. It has ongoing housing projects in various regions, including Riyadh, Makkah, the Eastern Region, Asir, and Al Kharj. Importantly, homebuyers in Roshn communities will have access to mortgage programs offered by the Ministry of Housing.
The inclusion of a navigable canal is particularly noteworthy, as it not only adds aesthetic value to the project but also contributes to the city's connectivity. Water taxis operating within the canal will provide a unique mode of transportation and offer residents and visitors an alternative way to traverse the area.
Moreover, the canal's connection to King Abdulaziz International Airport is a strategic move. It can streamline travel for passengers and potentially boost tourism, as it offers a scenic and efficient route to and from the airport. This development is a testament to Saudi Arabia's forward-thinking approach to urban planning and infrastructure.
As Saudi Arabia continues to invest in large-scale projects like Marafy, it is likely to attract global attention and further establish itself as a destination for both residents and businesses. The country's commitment to diversifying its economy, improving its infrastructure, and enhancing its global competitiveness is evident in initiatives like Vision 2030 and ground breaking projects such as this.
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