Project Owner: Anan Real Estate Finance Company
Estimated Value: $50 million
Project Type: Infrastructure I Mixed-Use Development
Project/Feasibility Start Date: Q2-2016
Estimated Completion: Q4-2021
Capacity: Total land area of 200,000 square meters
Status: FEED/Design
Location: Riyadh, Kingdom of Saudi Arabia
PROJECT DETAILS
Anan Real Estate Finance Company is planning to build a mixed-use development project known as Riyadh Corniche. It will comprise of residential and commercial development spread across an area of 200,000 sq m.
Located in the north of Riyadh, the project will have passageways that will be built for the first time in Riyadh which will be in accordance to the world class standards and specifications. Upon completion, this project will be considered as a tourist point for Riyadh and also a real estate investment field.
Riyadh based Al Jubeen Engineering Consultant is carrying out the design works after being awarded the contract in October last year.
SCOPE OF WORK
Scope of work includes construction of the following:
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Residences
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Commercial area
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Restaurants
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Cafes and coffee shops
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Clubs and entertainment places
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Gymnasium
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Spa
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Car parking facilities
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Landscaping and garden area
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Security and other related facilities
TIMELINE
May 2018 - Design works are still ongoing. It is expected to be completed by the end of the year.
October 2017 - Riyadh based Al Jubeen Engineering Consultant is selected as the design contractor.
February 2017 - The project is still under the early planning and study stage.
June 2016 - Feasibility study is currently underway for the development of a mixed-use project known as Riyadh Corniche.
