A consortium of local and Turkish contractors has won the contract to build Riyadh’s estimated SR1bn ($266m) Qurtoba housing project.
The consortium was awarded the construction contract at the end of June this year. Plans to begin building are set for mid-July with a tentative completion date of early 2012.
The contract was awarded by the project developer local Alargan Homes. The contractors in the consortium include:
- Arabian Telal Contracting Company (local)
- Binooh Contracting (local)
- Al-Jazoorah al-Khabra (Turkey)
- Murad Contracting (Turkey)
Qurtoba will include 1,000 duplex homes and 400 single-family villas. It will encompass an area of 360,000 square metres and once finished will be one of Riyadh’s largest housing developments.
The size of duplexes ranges from 250 to 450 square-metres with prices reaching SR1m for the most expensive apartment. Villas will range from 400 to 800 sq m and reach SR1.9m.
Qurotba was designed by Lebanese architect Bernard Khoury. It was conceived as a response to Riyadh’s burgeoning population and shortage of middle-income homes (MEED 1:4:10).
Alargan is also developing affordable homes in Dammam. The estimated $100m Al-Murjana development is being tendered and is scheduled for completion in 2014.