Work starts on $199m homes project in Riyadh

February, 17th 2015

Gulf Related, a leading regional real estate development company, has started construction of a SR748-million ($199 million) residential complex in Al-Dir'iyyah in Saudi Arabia’s Riyadh Province with the laying of the cornerstone.

Antara, upon completion in October 2016, will be home to roughly 520 expatriate families, a statement said.

Dr Karim El Solh, co-managing partner of Gulf Related, said: “Antara is a unique, premium residential project by virtue of its excellent location, careful planning, experienced development managers and the support of the Al-Dir'iyyah Governorate and municipality. It is expected to establish a new benchmark in quality living for expatriates in the kingdom. When completed, it will be a signature landmark in Riyadh’s urban landscape.”

Strategically located in the growing Al-Dir'iyyah Governorate, in the north-western part of Riyadh on King Khalid Road, and 10 minutes from King Abdullah Financial District and 20 minutes from King Khalid International Airport, it is designed in as a self-contained Mediterranean-style resort village.

Emile Habib, managing director of Gulf Related, explained: “Antara is a large integrated development that comprises a built-up area (BUA) of 98,115 sq m, consisting of 520 homes in park-like landscape. It is a state-of-the-art residential area with a distinctive character in the metropolis of Riyadh.”

“It will serve as a model residential development for the expatriate community in and around the capital and will be nothing less than another captivating world-class development in the heart of Riyadh Province.”

Antara was masterplanned by Otak and world-renowned Edsa, out of Ft Lauderdale with offices in Abu Dhabi, which also designed the generous landscape architecture. The infrastructure, building architecture, interior design and engineering was designed by Omrania & Associates out of its Riyadh and Bahrain offices.

Raja Alameddine, executive director, Gulf Related, said: “What makes the project stand out is the quality standard that is applied in order to create a desirable urban neighbourhood that offers a resort-style compound living for expatriates in the kingdom. Construction on this signature project is on track with the continued support of the municipality and the Governorate of Al-Dir'iyyah. Riyadh residents expect and demand superior facilities and this is what Antara will deliver when complete.”

Khaldoun Tabari, CEO and vice chairman, Drake and Scull International (DSI), the contractor on the project, said: “We are excited to start the main works on the Antara project which marks a significant milestone for DSI’s impressive track record in the Kingdom of Saudi Arabia, our biggest market in the region. Our work on the Antara development will be a showcase of our project planning and execution capabilities.”

Other infrastructure facilities will consist of utility building, security gates and guardhouses, car-parking, landscaping, and pedestrian paths, with 40 per cent of the total development, or about 48,500 sq m committed to open areas, lush green landscaping, cycling tracks and children’s play areas.

Enabling and underground infrastructure works have already been completed, a statement said.

Source: www.tradearabia.com