Construction has begun on a $200 million residential complex in Riyadh, Saudi Arabia, according to regional property developer Gulf Related.
The real estate firm – a joint venture between Abu Dhabi-based asset managers Gulf Capital and Related Companies, a US-based real estate developer – said the Antara project will be home to approximately 520 expatriate families once completed in October 2016.
Located in Al-Dir’iyyah in Riyadh Province, to the north-west of the Saudi capital, it is expected to cost $199.3 million, the developer said in a statement.
Dr Karim El Solh, co-managing partner of Gulf Related, said he expected the project to become a “signature landmark” of Riyadh’s urban landscape.
The project is designed as a Mediterranean-resort, and is situated 20 minutes from King Khalid International Airport, Gulf Related highlighted. It comprises a built-up area of 98,115 square meters and park-like landscaping, the developer said.
The project was master-planned by OTAK, while landscape architecture was conducted by EDSA, the US-based firm. Infrastructure, building architecture, interior design and engineering were conducted by Omrania & Associates, out of their Riyadh and Bahrain offices.
The main contractor for the project will be the UAE-based Drake and Scull International, whose chief executive Khaldoun Tabari said that the Antara development would be part of his company's showcase of Saudi projects.
Other infrastructure facilities will consist of utility building, security gates and guardhouses, car parking, landscaping, and pedestrian paths, with 40% of the total development, or about 48,500 square meters committed to open areas, green landscaping, cycling tracks and children’s play areas. Enabling and underground infrastructure works have already been completed.
ME Construction News