The Al Asmakh Real Estate Projects Company report said: The concerned authorities are currently implementing a number of projects to serve thousands of residential plots in different areas, and the report indicated that the infrastructure projects are distributed among 12 areas to serve more than 15 thousand plots of land, including about two thousand plots within the new citizens’ land areas. To meet the needs of population and urban expansion in various parts of the country.
The report explained that the main works have been completed to serve approximately 2,300 plots of citizens’ lands in the northern regions and northern Nasiriyah, which fall within the road and infrastructure projects implemented by the concerned authorities in all regions of the country.
The report added: The projects in the northern regions in which work has been completed include a number of packages in the Ebb and Leabaib project, which serve approximately 700 plots, in addition to two packages from the Al-Kharaitiyat and Azghawa project, which serve approximately 600 plots, while in the North Nasiriyah project, completion The main business of the second package is to serve about a thousand vouchers.
The report confirmed that these projects will contribute to the recovery of the real estate sector significantly, and will positively impact the increase in real estate investment and construction activity in those areas. These projects will also contribute to increasing the demand for land in that region.
The report said: The state has established many projects within its plan for infrastructure projects, and added: These projects include 32 projects to serve citizens’ lands and new and existing residential areas, and 23 projects to develop internal roads. Pointing out that the rate of government spending is considered one of the most important factors leading to the growth of the real estate sector.
At the level of highway projects, the report explained that these projects contributed to linking many economic and commercial facilities, health and educational facilities, in addition to linking regions to each other. These projects also contributed to the reconstruction of the areas adjacent to these roads and the creation of new residential areas.
The report stated that the current year, 2024, will witness the completion of a number of new projects in the field of infrastructure development, which will contribute to supporting the real estate sector.
Land prices and transaction values
Regarding the prices per square foot of land on which deals were carried out during the second week of this November, the real estate index of the “Al-Asmakh” company indicated that it witnessed a variation in prices, explaining that the average offer prices per square foot in the Mansoura and Bin Dirham area amounted to “1,380” riyals, and recorded In the Al-Najma area, it was “1,320” riyals per square foot, and the average price per square foot in the Al-Mamoura area stabilized at “385” riyals, and the average price per foot in the Al-Mamoura area stabilized at “385” riyals. The old airport at “870” riyals for buildings.
The Al Asmakh Real Estate Index also indicated that the price per square foot was recorded at “365” riyals in the Aziziyah area, while the price of “1,350” per square foot in the Umm Ghuwailina area was recorded.