01 December 2023
01 December 2023
The apartment complex will comprise studios, and one, two and three-bedroom floor plans, with penthouse apartments on the upper levels
Homes at the site are aiming to achieve an EPC A grade for energy efficiency.
The works took five years to complete and comprised more than a million hours of labour.
The financial support approved by the board comprises two separate loans.
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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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