Saudi king approves $2.93bn of Taif projects

      Published on Friday, 6 October , 2017      1009 Views     
Saudi king approves $2.93bn of Taif projects

  • King

Saudi Arabia’s King Salman has approved SAR11bn ($2.93bn) of projects in Taif.




The projects are located in the new city of Taif, to the northeast of the old city in an area spanning 1,250 square kilometres.

They include a new airport, tourism city Souq Okaz, technology, industrial and university zones and a residential area with 10,500 housing units.

The airport, north of Mount Hala, is expected to cost SAR3.13bn ($834.6m) to build and is spread over an area of 48 million square metres.

Consolidated Contractors Company, Aviation Security in Airport Development and Munich airport operator Flughafen München GmbH have been appointed to develop and operate it.

Souq Okaz city is expected to cost SAR8bn ($2.1bn) across all its phases and will include Okaz Museum, Exhibition and Conference Centre, the Arab Poetry Academy, the Okaz Souk itself, an art and creativity centre, Okaz Park, 1250 hotel rooms and 130 new homes.

The private sector is expected to cover 89 per cent of the investment.

The 35-million-square-metre technology zone is being designed under a joint venture between King Abdul Aziz City for Science and Technology and the Morganti Group. It will assemble and manufacture Antonov planes and make solar panels.

Elsewhere, the industrial zone will cover 11 million square metres and include light, medium and heavy industries and a training centre in its $32m first phase and the university area at Sysid National Park will comprise 16 projects worth $530m over an area of 16 million square metres.

The Ministry of Housing said the $160m residential district would cover 12 million square metres and was expected to accommodate 70,000 people.

Housing units will be split between villas, apartments and townhouses.

The ministry said that the 494,000-square-metre Terba project, providing 404 residential units, and the 604,000-square-metre Rania project with 584 units were also underway.



http://gulfbusiness.com/


Category King | 2017/10/06 latest update at 1:00 AM
Source : | Photocredit :
1010 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Uber Eats expands to Makkah, Madinah
Saudi Arabia Saudi Arabia news

Uber Eats expands to Makkah, Madinah

Delivery service Uber Eats has expanded into two additional Saudi cities, launching in both Makkah and Madinah. In…

First case of coronavirus confirmed in Egypt

US arranging meeting between Netanyahu and Saudi crown prince

London’s community of wealthy Middle East property buyers continues to grow

Saudi Arabia pledges full support to Greek Cypriot administration King

Saudi Arabia pledges full support to Greek Cypriot administration

Saudi Arabian Foreign Minister Prince Faisal bin Farhan al-Saud expressed full support for the Greek Cypriot administration amid…

Saudi Cabinet voices support for the territorial sovereignty of Cyprus Government

Saudi Cabinet voices support for the territorial sovereignty of Cyprus

Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil…

How G20 presidency is likely to deliver Saudi economic boost Government

How G20 presidency is likely to deliver Saudi economic boost

Saudi Arabia becoming the first Arab nation to take over the G20 presidency is likely to deliver a…

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions Government

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions

Saudi Arabia’s King Salman received on Sunday the Cypriot Foreign Minister Nikos Christodoulides. They discussed bilateral relations between…

GULF TV

Popular in GULF TV

Saudi Crown Prince Wife|Why Not with him In the Foreign Tour’s

2833 Views

Saudi Crown Prince Wife Princess Sara bint Mashoor, Why Not with him In the Foreign Tour’s. Prince Mohammed…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government