Kinan International Real Estate Development, the real estate wing of Savola Group, has appointed Nikken Sekki to design two towers in the heart of Jeddah.

Dr Mohammad Amin Kashgari, CEO of Kinan International, said the SR2 billion state-of-the-art high-rises will be spread over 260,000 sq m and will have both residential and commercial facilities.

Over 100,000 sq m of the development will be dedicated to a five-star hotel and residential apartments.

A 16,000 sq m roof-top garden will be another feature of the structures which sit on prime location close to the city’s archaeological and historical district in the commercial hub of the city and the corniche.

Kinan was established in 2004 by Savola Group under the name Modern Marafiq. In 2006, a large portion of the firm was transferred to investors and was subsequently renamed Kinan International in 2007.

“Kinan recently signed an agreement to develop the twin-tower complex with Nikken Sekki CEO Mr Nakkamura in the presence of former Japanese ambassador HE Onda,” Dr Kashgari said.

Nikken Sekki had designed the Islamic Development Bank (IDB) tower, popularly known as Bride of the Red Sea, which is now a landmark in Jeddah. The consulting firm is also involved in over 20,000 projects in 40 countries worldwide.

Kinan is collaborating with Hill International to provide management and supervision services for the two sky-scrappers which will have a parking lot for 4,000 cars.

Jones Lang La Salle, an internationally renowned real estate advisory firm, is being recruited for the market research while cost-consultancy will be looked after DG Jones & Partners.

He also said that Midrar, a Saudi-based firm specializing in development management, is actively involved in the construction of the symmetrical towers.

At present Kinan runs six operating malls including Aliat Al-Madinah, the recently opened mall in the holy city of Madinah Al-Munawwara.

Kinan is now aggressively expanding its portfolio of residential and mixed use developments and is preparing to become a major real estate player in the Mena region. – TradeArabia News Service