Real Estate
 
 

Jeddah & Riyadh Land

KHC will seek to repeat the success of its Kingdom Center through new landmark development projects in Riyadh and Jeddah. As with the Kingdom Center, the KHC is planning to create important new residential and commercial districts within those cities. 

Riyadh Land
The Riyadh land site is strategically located on the Riyadh-Dammam highway in the north eastern outskirts of the city, approximately 15 minutes driving distance from the city. It comprises approximately 16.8 million square metres of relatively flat land with an extensive frontage on the highway, and is currently undeveloped, with the exception of several petrol filling stations on the south side of the main highway and numerous small residential camps. Once developed, the Riyadh land will be a mixed use residential and commercial development, in addition to a private leisure and equestrian club, with serviced bungalows and sports and other leisure facilities which are expected to be managed by Fairmont Hotels and Resorts. Plans exist for the government to build a highway linking the south western end of this development to the nearby King Khalid International Airport. 

KHC estimates that the total investment potential that will be generated by this project will be in excess of SR20 billion. KHC believes that this development could house up to 75,000 people. It has engaged Booz Allen Hamilton ("Booz Allen"), the global strategy and management consulting firm, to analyse the market for the various components of this project, review the project development concept in the light of this market analysis, and evaluate the project’s expected financial performance going forward. It has also retained Omrania & Associates (O&A) together with Barton Willmore to develop the final master plan for the project.

Jeddah Land
The Jeddah land site is located in the city's northern area, on northern side of the Obhur Creek and the Red Sea, an area known for its natural beauty and beach facilities. It comprises more than 2 million square metres. It is approximately 20 minutes driving distance from the city centre of Jeddah and 5 minutes north west of the King Abdul Aziz airport. The site consists of relatively level open land which is presently undeveloped. The immediately surrounding area is developed with private residences and club facilities on the waterfront which borders the site on the west and south. The project has acquired adjacent sites to provide access to Obhur creek and the Red Sea.

KHC plans to use the Jeddah land for a mixed-use commercial, residential and resort development, anchored by a large skyscraper surrounded by other facilities including office space, residential units, a school, hotels and retail facilities. Some infrastructure works will be constructed, including a bridge across Obhur Creek, linking the site to the city centre and airport to reduce driving distances. 

KHC estimates that the total investment potential that will be generated by this project will be in excess of SR 55 billion. It has engaged Booz Allen Hamilton ("Booz Allen"), the global strategy and management consulting firm, to analyse the market for the various components of this project, review the project development concept in the light of this market analysis, and evaluate the project’s expected financial performance going forward. It has also retained Omrania & Associates (O&A) together with HOK to develop a master plan for the project, plus Pickard Chilton for the skyscraper design, plus other specialized engineering firms for structural, infrastructure and traffic design, cost and time planning, etc.

The proposed development consists of a landmark tower, residential units, retail space, office space, a beach resort, hotels and an education campus.