Saudi property developer SEDCO Development finalizes a deal for a new commercial, residential and recreational project in Jeddah, Reuters reports.

The company concluded an agreement with SEDCO Holding Group and Methak Holding Company to begin the real estate development of Al-Rawdah Complex project.

Spanning across an area of 70,000 square meters, the project boasts a shopping mall, residential and commercial towers as well as a hotel offering to meet growing demand.

“The first phase will be launched with 26,000 square meters dedicated to the commercial center including a variety of showrooms over its two floors, in addition to recreational areas and other service amenities on 50,000 square meters of the total site´s area,” SEDCO CEO Development Zuhair Hamzah says.