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Saudi real estate developers Dar Al Arkan and SNASCO Real Estate have come together in a joint venture to build a luxury residential tower in Jeddah Corniche.
The Jeddah Corniche, which stretches over 30 kilometres along the coast, is one of the popular residential and recreational destinations in the Kingdom.
Dar Al Arkan said in a statement that the tower will feature around 300 luxury apartments overlooking the Red Sea.
Work on the development is expected to start in the fourth quarter of 2021, the statement said.
In the UAE, Dar Al Arkan is currently developing a 39-storey residential tower - Urban Oasis by Missoni - on the Dubai Canal. The tower's construction is 27 percent complete as on 17 June 2021, according to Dubai Land Department data.
The project was previously named I Love Florence Tower but was rebranded in June 2021 as Urban Oasis by Missoni, according to Propsearch.ae portal.
(Writing by SA Kader; Editing by Anoop Menon)
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