Developed by the local Injaz Development Company, the project, located between Khobar and Dammam, is a mixed-use development stretching 4 kilometres along the coast.
The client is busy contracting architects and designers to establish concepts and themes for the site.
Construction on the project is expected to be complete by 2013.
The firm aims to award construction and infrastructure contracts by the end of 2008.
The project was officially launched during the recent Cityscape exhibition in Dubai in October.