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Covering major construction projects in the Middle East
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| Country |
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Saudi Arabia |
| Project Value |
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USD 1,600,000,000 |
| Sector |
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Real Estate | Residential |
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Consultant |
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Zuhair Fayez Partnership
(Design) |
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PMC |
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Hill International (Middle East) Limited
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Contractor |
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Saudi Constructioneers Establishment
(Construction) |
| Profile Type |
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Standalone Project
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| On Hold
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Last Activity:
Construction - Execution
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Initial Completion: Q1 2014
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| Background |
Thabat plans to develop Nasamat al Riyadh, a residential project in northern Riyadh.
The project will spread over a 3 million sq. m. area and will include 4,200 residential units, educational facilities, commercial outlets and entertainment facilities.
Nasmat Al Riyadh will be developed in 3 phases. The scope of each phase has not been announced yet.
Zuhair Fayez Partnership ConsultantsZuhair Fayez Partnership Consultants is the design consultant and Hill InternationalHill International is the PMC. |
| Latest Events |
In December 2011, the project was still on hold and no expected date to resume work was yet revealed.
In Q1 2014, the project is expected to be completed. |
| Previous Events |
In September 2011, the project put on hold.
In March 2011, the construction started.
In August 2010, mock up villas were completed.
In April 2010, the project was approved by the Ministry of Commerce and Industry.
In Q1 2010, the main construction contract was awarded to Saudi Constructioneers EstablishmentSaudi Constructioneers Establishment.
In November 2009, the design consultant was awarded to Zuhair Fayez Partnership ConsultantsZuhair Fayez Partnership Consultants and the PMC contract was awarded to Hill InternationalHill International.
In June 2009, the project was approved.
In the end of May 2009, the design was completed.
In 2008, the project was launched. |
| Scope of Work |
Construction of a 3 million sq. m. residential development including:
- 4,200 residential units
- Educational facilities
- Commercial outlets
- Entertainment facilities
- Related facilities |
| Financing Source |
In August 2009, Thabat signed a USD 373 million shariah-compliant loan agreement to finance the project. |
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