Thursday 14 Nov
Talaat Moustafa Group's (TMG) pavilion at Cityscape Global 2024 was a major draw for customers and industry professionals alike due to the diverse range of projects showcased by the company. Visitors expressed their deep appreciation and admiration for the TMG's projects, particularly their focus on planning, comprehensive services, and the quality of sustainable and smart green living.
4,000 units sold in just 5 months
Talaat Moustafa Group Saudi Arabia CEO, Engineer Ahmed Hany
Talaat, announced that sales for the Banan project surpassed 4,000 housing
units within just 5 months of its May launch. This achievement exceeded the
initial target of 3,000 units within a year. The strong sales performance
reflects the high customer confidence in the group's innovative urban model for
Banan, a northeast Riyadh development. The project promises a unique and
exceptional quality of life for Saudi citizens, mirroring the success of projects
like Madinaty.
Registration, financing, and contracting deals sealed
During the exhibition, TMG Saudi Arabia signed a number of agreements with the Saudi National Bank to enhance real estate financing programs, and provide diverse and convenient financing options for customers to own residential units in the Banan project (off-plan sales). Additionally, a memorandum of understanding was signed with the Real Estate Registry (RER) to facilitate in-kind registration services for units using advanced international technology, safeguarding owners’ rights. To ensure timely project completion, the group inked deals with leading contracting companies to adhere to construction timelines and deliver units as scheduled. These efforts align with the levelling works in the first phase of the project's land, initiated last July.
Banan City: A global standard for quality living, comprehensive
services for residents
Banan City is one of the world's best cities that provides a
quality of life that lives up to the motto it raised, "The best community
to live in." This distinction is earned through a harmonious blend of
technology, digitization, and quality-of-life principles. The gated community
offers a serene environment for over 120,000 residents, with expansive green
spaces comprising 40% of the project's area. The city prioritizes
self-sufficiency, providing integrated services within walking distance of
homes, including schools, medical centers, recreational facilities, and a
300,000-square-meter social and sports club. Essential services like a police
station, fire station, ambulance, and post office are also available, ensuring privacy
standards and providing security for residents.
Sustainable management with smart technology
Talaat Moustafa Group undertakes the management of the Banan
project and provides all after-sales services, ensuring the project’s sustainability
and unique identity. The group implements advanced security and protection
systems, including surveillance cameras, and promotes environmental
responsibility through renewable energy solutions, smart irrigation, smart
lighting, and waste management practices to provide a green, smart, and
sustainable environment. To enhance the living experience, Banan offers smart
home services in over 27,000 residential units, encompassing apartments,
villas, and family housing lands, a novel offering in the Saudi market.
Transferring expertise to the Kingdom
Through Banan City, Talaat Moustafa Group aims to transfer its pioneering experience in establishing integrated urban communities, over more than 55 years, to the Kingdom of Saudi Arabia. By replicating the success of projects like "Al Rehab City," Egypt's first private-sector integrated city, and Madinaty, a 33-million-square-meter metropolis with comprehensive services, the group seeks to establish Banan City as a model for future smart cities. Other inspiring projects, such as Noor City in Capital Gardens and SouthMED on northwest coast on the Mediterranean, further demonstrate the group's commitment to creating future, sustainable and integrated smart cities.
