Local developer Al-Tilal Real Estate plans to build an estimated $150m mixed-use resort in Saudi Arabia’s central province of Al-Qassim.
Known as the Onaizah Resort, the 400,000-square-metre project is located 400 kilometres northwest of Riyadh and will cater to local families. The building and operation of the resort is also expected to create several hundred jobs in the mostly agrarian province.
The local office of KEO International Consultants is preparing the business plan and concept masterplan for the project. KEO has also been contracted to provide detailed design and development management services.
The real estate company is hoping to confirm the support and approval of the Al-Qassim Municipality and key stakeholders before moving forward with detailed design. All design services are scheduled to be complete by the second quarter of 2011.
The key components of the Onaizah Resort concept features:
- Recreation city, which includes a shopping mall, entertainment centre, picnic areas and underground car parking
- Heritage village, which includes a souk hosting local crafts and produce alongside restaurants and cafe facilities
- A four-star hotel and underground car parking structure with an attached convention centre suited for weddings and conferences
- An integrated residential complex of chalets with private gardens and swimming pools
- A sports centre with a public swimming pool, and track and field facilities
- 90,000 sq m of public space and park facilities with shaded landscaping
- A car park with more than 500 spaces
- A mosque
Al-Tilal Real Estate was established in 2008 as a consortium of investors from Saudi Arabia and Kuwait. The Kuwaiti developer Tijara Real Estate Investments is one of the shareholders.
In addition to the Onaizah Resort plot, Tijara owns 5,000 sq m of land along Riyadh’s King Fahed Street. It also holds residential blocks in the capital with a total floor area of 51,000 sq m. In addition, the developer has purchased plots of land in Dubai and Divonne-les-Bains in eastern France.