National Housing Company and Talaat Moustafa Group Collaborate on a Development Project Worth SR31.4 billionUS $837 million in Riyadh.

Riyadh: The National Housing Company of Saudi Arabia and Talaat Moustafa Group have in collaboration announced the commencement of construction on the SR 31.4 billion Banan City development project, which is situated in the northeastern region of Riyadh.   

According to the chairperson of the board of directors of the Talaat Moustafa Group, Hisham Talaat Moustafa, Banan is a smart city that will be constructed in Riyadh on an area of 10 million square meters. He stated that the housing project will provide over 120,000 residents of the gated community with an unparalleled quality of life by employing the most recent smart city technologies, protecting residential privacy, and adhering to the strictest sustainability standards. 

Source: Arab News