Construction of the 290,000-square-metre facility is expected to take about 32 months and will be carried out in several construction packages.
The client is Jeddah-based United Properties Company (UPC)
, which is 70 per cent owned by the local Savola Group
. The remaining 30 per cent shares is held by South Africa’s Old Mutual Properties
. UPC is planning to invest more than SR 2,245 million ($598 million) in real estate projects in the kingdom.
DDG is also carrying out pre-design work for the proposed 120,000-square-metre Dammam Central mall. Design development is due to be completed by December. The project is estimated to cost SR 360 million ($96 million) and is due to complete in September 2007.
Several other mall projects are planned in the kingdom, including:
in Riyadh, for which the local Saudi-Lebanese Contracting Company (Salmok)
is carrying out work on the main structural package for the 148,172-square-metre development. Due to be completed in February 2006, the contract is worth SR 279 million ($75 million). The design consultant is a team of the local Otishan
with France’s CVZ
in Riyadh, for which design bids are under evaluation from DDG, CVZ, South Africa’s BKA
, DSA International
of South Africa and France’s CIA
. Estimated to cost about SR 105 million ($28 million), the facility will have a total built-up area of 37,900 square metres and is targeted to be completed by October 2007;
in Riyadh, for which design bids are under study from DDG, CVZ, South Africa’s BKA, DSA and CIA. The project is worth SR 120 million ($32 million) and will have a total built-up area of 37,900 square metres. The facility is due to be completed by April 2008;
Dammam Corniche mall
, for which design work is under way by CVZ. The SR 180 million ($48 million) facility will have a built-up area of 52,000 square metres;
Aliat al-Medina mall
, for which the local Diyar Consult
is carrying out the design work. Estimated to cost SR 155 million ($41 million), the mall will have a total built-up area of 74,600 square metres and will take about 18 months to build; and
in Riyadh, for which the local Sewaih Contracting Company
has recently completed work for the SR 170 million ($45 million) facility, with a built-up area of 90,000 square metres.