SBG readies for Durrat al-Khobar buildings work

16 June 2006

Saudi Binladin Group (SBG) is expected to begin work on the construction of the first buildings on the estimated SR 1,500 million ($400 million) Durrat al-Khobar project by the summer. The client is Durrat al-Khobar Company, a subsidiary of the local Al-Harbash Group. SBG, which will carry out buildings and infrastructure work on the entire project, has already completed about 40 per cent of the infrastructure works including roads, tunnels, bridges and landscaping. Huta Hegerfeld, part of the local Huta-Sete, is carrying out the reclamation and dredging works, which will add an extra 1.8 kilometres to the coastline through waterways and beaches. The project will cover an area of about 4.1 million square metres.

Located in Al-Khobar's Half Moon bay, the project's first phase calls for the construction of residential villas and apartments, a five-star hotel, a marina, an aqua park and associated retail facilities. Phase 1 will be completed by 2008. Phases 2 and 3 will be sold to other developers and are scheduled for completion within four years. Beirut-based Associated Consulting Engineers (ACE) International is the consultant. Arriyada is the financial consultant.

The project is one of several being built in the area. Al-Khobar-based real estate developer Rikaz Development & Planning is building the Royal Amwaj resort (MEED 5:8:05), and the local Khalid Saud al-Shubaily for Real Estate Investment is developing a 7 million-square-metre beachfront development including a floating shopping mall (MEED 12:8:05).

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