13 November 2023
13 November 2023
The second phase is aiming to achieve LEED Core & Shell environmental certification.
The company has collaborated with UK National Highways on the project.
Construction will be carried out in stages from late 2025 through 2029.
Residents will have access to a clubhouse and fitness centre amongside other amenities at the site.
The facility will be managed by the STFC's RAL Space laboratory unit.
The park is predicted to generate more than $1bn via visitors in its first five years.
The current Coolidge Terminal will be replaced with an updated facility as part of the project.
The SEOC has been designed in order to withstand windstorms up to 200mph.
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Per GlobalData, between 2024 and 2027, the Saudi Arabian construction industry is projected to register an AAGR of 5% in real terms, supported by investments in various sectors such as data centers, logistics zones, renewable energy, housing, and tourism projects as part of the Kingdom’s ‘Vision 2030’ economic diversification plan. Construction activity in the energy and utilities sector is estimated to grow at an AAGR of 5.6%, supported by the government’s aim to increase the renewable energy capacity and achieving zero net carbon emissions by 2060.
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