Complex Planned to be developed in phases starting in 2022
King Salman Energy Park (SPARK), a global energy hub in Saudi Arabia and Affordable House Co. a subsidiary of Abdullah Bin Saedan & Sons Real Estate Group, a leading real estate developer for over a century, are pleased to announce the signature of an agreement for the development of a Staff Residential Complex at SPARK.
Planned to be developed in phases starting in 2022, the facility when completed a capacity of 8,000 beds and spreads over an area of more than 110,000sqm.
“Bin Saedan’s design is future-facing and sustainable, while being competitive. It will enable our tenants to safely lodge their employees while offering first class amenities,” commented Saif S. Al Qahtani, SPARK President and CEO.
“We are also committed toward SPARK and the Kingdom and look forward to successfully making this project a first of its kind while setting a new standard,” remarked Mohammed Abdullah Bin Saedan, Managing Director, Affordable House Co.
Execution is planned over three phases; with the first phase being nearly complete, which consists of infrastructure, roads, utilities and real estate assets established across 14sqkm. This is in addition to a dedicated 3sqkm dry port and logistics.