| Also Known As |
: |
Western Gate Road development |
| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 1,000,000,000 Estimated |
| Sector |
: |
Real Estate | Residential, Hotels
|
|
Consultant |
: |
Saudi Consolidated Engineering Company (Khatib and Alami)
(Engineering) |
|
PMC |
: |
Hill International (Middle East) Limited
|
|
Contractor |
: |
Nesma and Partners Contracting Company Limited
(Construction and MEP works) |
| Profile Type |
: |
Contract Project
|
| Associated Projects |
: |
Contract (1) | Related Projects (2) |
|
Phase:
Construction - Execution
|
|
Completion: Dec 2012
|
|
|
|
| Background |
Jabal Omar Development CompanyJabal Omar Development Company (JODC) plans to develop phase 1 of Jabal Omar Development, located in Makkah around the Grand Mosque, adjacent to Umm Al Qura Road to the north, Dahlat Al Rushd to the south, Ibrahim Al Khalil Road to the east and Hafayer and Tandabawi to the west.
The project will include 9 towers: 9 hotels and 89 residential apartments.
Hill International is the PMC and Khatib and AlamiKhatib and Alami is the engineering consultant. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Dec 2012 |
Completion | Project expected to be completed
|
|
| Latest Events |
In March 2012, the construction work was still ongoing.
In December 2012, the project is expected to be completed. |
| Previous Events |
In January 2011, the engineering consultancy contract was awarded to Khatib and AlamiKhatib and Alami.
In December 2010, the construction contract (including MEP works) was awarded to Nesma and Partners Contracting CompanyNesma and Partners Contracting Company construction and construction started.
In August 2010, the PMC contract was awarded to Hill International. |
| Scope of Work |
Construction of 9 towers including:
- 9 hotels
- 89 residential apartments |
| Financing Source |
In February 2011, Jabal Omar Development CompanyJabal Omar Development Company signed an agreement with Saudi British BankSaudi British Bank.
In December 2011, JODC signed a USD 800 million loan agreement with the Ministry of Finance to fund its projects, which include twin towers and a shopping mall.
In Q4 2010, Jabal Omar Development CompanyJabal Omar Development Company is expected to complete a USD 1.3bn financing deal for the first stage of the project. The financing will include a USD 800 million bank loan and the remaining will be rights issue.
In May 2009, Al Rajhi Financial Services, a unit of Al Rajhi Bank, was appointed as the project's financial adviser.
In April 2009, the financial consultancy contract with Jadwa Investment was terminated.
In July 2008, Jadwa Investment was awarded the financial consultancy contract and it announced that it invested USD 3.3 billion in the project .
In November 2007, Jabal Omar Development raised USD 537 million in an initial public offering (IPO).
Bank Al Bilad is the IPO lead Manager, financial adviser and underwriter.
Baker and McKenzie is the legal adviser. |
| Contract Packages |
|
| Related Projects |
|
| Project News |
|
|
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Residential 
Hotel 
Talk To Zawya Analyst
Download to PDF