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Affordable House Company, a subsidiary of Saudi Arabia's Abdullah Bin Saedan & Sons Real Estate Group, will invest $100 million in developing a staff accommodation complex in King Salman Energy Park (SPARK) in the Eastern Province.
The energy and industrial zone said in a press statement that the residential complex, which will cater to the industrial city's tenants, would be developed in phases starting 2022.
The complex, spread over an area of more than 110,000 metres, would have a capacity of 8,000 beds, the press statement said, adding that its design incorporates sustainability principles and green technologies.
SPARK is also the first and only industrial city in the world to achieve silver LEED certification.
Last month, Zawya Projects reported that Aramco and Horizon Project Company had broken ground for a 277,000 square metre drilling and workover site in SPARK.
(Writing by SA Kader; Editing by Anoop Menon)
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