Al-Salam
Hay al-Salam….The First Brick …….
There is always a first brick in every new city and a project that is the beginning of the radiance of this city and the first impulse of its urban growth…Hay al-Salam is the new portal of Al-Khafaji and the first spark of the beginning of the urban movement.
The significance of this dynamic city was reflected upon the project, which in its turn gained a particular importance, and consequently Al-Khafaji gained a new soul and a new city with a promising urban future…
Hay al-Salam…the lung of Al-Khafaji and its urban outlet…
• Location Strategy
Thanks to its strategic location that places it at the center of the biggest natural source for oil industry in the world, Al-Khafaji became a destination for the biggest international companies’ investments such as Aramco Gulf Operations co. and the Saudi Texaco…
Therefore the city was chosen to embrace Hay al-Salam so that the latter becomes a new perspective for this fast-growing city and a civilizational addition to the urban development movement through the provision of a prestigious residential and investment environment.
Moreover, the project is only 500 meters away from Kuwait-Dammam highway, 25 kilometers away from the new airport, and only 5 kilometers form Al-Khafaji Public Hospital. The plan is also situated on the principal streets in the city with an area of 60 meters wide connecting with all the important and dynamic roads in the region and in the vicinity of the university that is proposed to be built in Al-Khafaji.
• Services Integration
The huge area of Hay al-Salam totaling around two millions square meters, in addition to the integrated structural and services system provided to the project through the successful collaboration between Al-Oula Development and Asas & Arbah Company, made it the first integrated residential quarter in Al-Khafji district, which was developed as per the highest international measures.
The project includes more than 1500 residential and commercial parcels with areas ranging between 500 and 1000 square meters, in addition to markets and major utilities, and its proximity of all the services in Al-Khafji city expecting investments worth more than 5 million riyals.
• Unique Lifestyle
The flexible investment allowed by the plan through its different usages, commercial and residential, as well as the diversity of land areas, and the presence of large green areas, all that contribute in creating special family entertaining ambiances and provide efficient solutions to the city residents as well as a different ways of life characterized by its tranquility and stability as large areas were allotted to mosques, schools, services, utilities and governmental authorities.
Additionally, Hay al-Salam is located near the Saudi-Kuwaiti borders, and the GCC citizens are allowed to possess lands, what is attractive to the employees in the oil companies that are near the location, and therefore the rise in the price of real estates in that region is expectable due to its commercial position and dynamic state.
• Success Beyond Limit
The magnificent success of the “Al-Oula Development” and “Asas & Arbah” companies in covering and closing the subscription in a record time exceeded 100 percent of a total 60 percent out of 4160 shares, which are the total shares of the plan. This is proof par excellence of the distinction of the project, its strategic location, and its unique architectural characteristics.
The success was not achieved locally only but also the project was exposed in Kuwait Exhibition for Real Estate and Investment and it was attended by a huge number ok Kuwaiti investors who were convinced of the feasibility of the investment in this exemplary plan.
Moreover, two agreements were concluded – an agreement with Kuwait Finance Bank that was charged with funding the Kuwaiti investors by way of purchase through the Murabaha system that does not contradict the Islamic laws and is religiously legitimate, and another agreement with Dar al-Khalij Real Estate that promoted the project in Kuwait.