Riyadh Real Estate: 'Banan' City In Al-Fursan Neighbourhood

by Alexandra Mansilla

Riyadh Real Estate: 'Banan' City In Al-Fursan Neighbourhood

13 May 2024

In March of this year, the launch of the Banan City Project in Riyadh's Al-Fursan suburb was officially inaugurated. The protocol was signed by Majid bin Abdullah Al-Hagail, Minister of Municipal and Rural Affairs and Housing, along with representatives from the National Housing Company (NHC) and Talaat Moustafa Group — Saudi Arabia (TMG). More recently, a significant step forward in Riyadh real estate development was taken when NHC, in collaboration with Talaat Moustafa Group, laid the foundation stone for Banan City in northeast Riyadh. We will be able to view villas for sale (honestly, we are already eager to see the house prices!), on Wednesday, May 15, 2024.

Who is behind the new Riyadh real estate initiative?

TMG, a renowned real estate and tourism investment organisation, is at the forefront of developing integrated, exclusive, and luxurious projects of enduring value. With a proven track record of success in Egypt's hot spots, TMG brings its expertise and vision to the Banan City Project in Saudi Arabia.

TMG proudly owns a variety of integrated residential projects, including Al Rehab — New Cairo, Al Rabwa — Al Shiekh Zaied city, Mayfair — Al Shorouk City, and Madinaty — New Cairo.

The National Housing Company is a leading force in real estate development. It focuses on expanding the housing inventory in Saudi Arabia to support the Housing Program under Saudi Vision 2030.

Source: talaatmoustafa.sa

Where will the new Riyadh real estate be located?

So, where will these house sites be located? How convenient is the location of these houses for sale? Let’s see.

Strategically situated in Al Riyadh's rapidly growing northeastern Al Fursan Neighborhood, Banan enjoys a prime location just 15 minutes by car from King Khalid International Airport. Located at the crossroads of Janadriyah and Al-Thumama roads, Banan provides residents with convenient access to downtown Al Riyadh and the boulevard, both within a 30-minute drive.

The development is also near essential landmarks such as King Abdulaziz Equestrian Square, Princess Nourah University, Granada Mall, and the future site of Riyadh Expo 2030. Its proximity to major thoroughfares like King Fahd Road and Olaya Street, accessible via Al-Thumama Road, ensures easy connectivity to the city centre. Additionally, nearby cultural and entertainment venues in Al-Thumama and Al-Janadriah enhance Banan's allure, making it a prime location for upscale living and attractive investment opportunities in Al Riyadh.

Source: talaatmoustafa.sa

More about the design of the new Riyadh real estate

The design of Banan focuses on seamlessly blending living spaces with a dynamic lifestyle, offering a range of housing options from sleek contemporary apartments to spacious villas and cozy family homes.

All villas for sale will be nestled among lush greenery and scenic vistas and conveniently located near essential amenities such as shopping, healthcare, education, and recreational facilities. This ensures every resident's needs are met, catering to Saudi society's diverse lifestyles while promoting community cohesion and well-being.

Banan's planning philosophy prioritises harmony between neighbourhoods while safeguarding privacy. Central to this design is a verdant strip varying from 50 to 150 meters wide that runs through the heart of the project, giving each home a sense of exclusivity.

The city will feature over 27,000 residential units, including apartments, villas, and lands. All the buildings will be placed at least 30 meters apart, enhancing privacy and providing expansive green views. This principle is similarly applied in the villa zones, where each home is set at least 20 meters away from its neighbours. Additionally, a perimeter fence around the project enhances security and strengthens the community feel.

Banan City will spread across 10 million square meters, designed to elevate the quality of life for its 120,000 residents. This gated community will seamlessly incorporate advanced smart city technologies and uphold high sustainability standards.

Does Banan City sound like one of the best places to look for homes for sale? We don't know yet, so let’s wait and see.

by Alexandra Mansilla