Business & Money | Wednesday 2 March, 2016 3:00 pm |

 Kinan for real estate development recently unveiled its all-new Quarto residential units at its Masharef project in Jeddah. The novel units allow owners to enjoy living in one of four units in one building. These units have the privacy of a villa, which could be an incentive for those who want to buy an apartment with the price of an apartment and the independence of a villa. 

 

Engineer Nidal Jamjoom, CEO of Kinan explained that: “The launch of Quarto units is the result of the continuous efforts that Kinan strives to achieve when bringing unique solutions to the residential market. These solutions are presented after monitoring the market and they effectively help in providing residential units to Saudi Arabian citizens while respecting their needs and financial abilities. The Quarto units create a new kind of neighbor relations and they are considered a hybrid between an apartment unit and a villa. The building is divided into four apartments, hence the name Quarto, which means four in Latin. Two of the apartments are located in the ground floor and the two other units in the first floor, where each floor has its own entrance scheme. Each apartment also has a housekeeper room, driver room and its own sewage system, with a private terrace or garden for each unit.”

 

Mr. Bandar Naqro, Project Marketing Manager at Kinan expressed that, “The Quarto units are specially designed to fit all tastes. Owners have the choice of Arabian, Italian or Andalusia oriented designs that are being executed with the highest international standards and with the best quality aligned with modernity and Saudi Arabian traditions. On the other hand, these unique units portray a quantum leap and an added value to Masharef Jeddah that has witnessed life since over 150 families have already moved in to the project to live a quiet and exciting lifestyle. Families now have the advantage to experience the exquisite and integrated services especially after the company’s great success in finishing the large mosque in the project and three gardens. Kinan is currently creating the plan for a mall that includes fine dining restaurants, well known brands and a collaboration has been asserted with Panda supermarket to serve residents.”

 

Masharef Jeddah covers an area of approximately 1 million square meters, strategically located in North of Jeddah, with close proximity to King Abdulaziz airport (7 minutes) and to King Abdulaziz University (15 minutes). The project comes with well grounded and top of the line quality services such as green gardens, courts, a shopping center, a mosque, in addition to a well-balanced community.

 

Kinan was founded in 2003 with a capital of 1.7 billion riyals, and the contribution of several companies. In 2009, the company entered the field of housing development. The total spaces of the residential projects Kinan is going and currently developing amounts to about 5 million square meters making it one of the major companies in developing middle-income residential projects in the Kingdom. The company is currently developing two main projects in the Kingdom: the first is Masharef residential project in northern Jeddah and the second is Masharef Hills Project in northern Riyadh. The company has developed a group of commercial centers in 7 cities in the Kingdom with investments of more than 1.8 billion riyals.