Arab Finance: Talaat Moustafa Group Holding (TMG Holding) has signed the final agreement for purchasing the plot of land of Banan City as well as the project’s launch, as per a disclosure.
TMG inked the deal via its development arm in Saudi Arabia Saudi Talaat Moustafa Group Company for Real Estate Development.
Banan City is set to be developed in Al Fursan suburb, Riyadh, on a total area of 10 million square meters, with total investments estimated at SAR 31.4 billion.
The project’s expected revenues, including sales and rents, are valued at SAR 38 billion.