The Knowledge Economic City has signed up ElKhereiji Commerce & Contracting Company to execute all contracting works for the first phase of residential buildings within the Al Alya mixed-use project
Under the SAR282 million ($77 million) contract, the scope of work includes the construction, electromechanical and finishing works for additional group of 4 towers, providing residential apartments of various areas added to the first phase being development by the contractors as part of Al Alya mixed-use project, said Knowledge Economic City in its filing to Saudi bourse Tadawul.
Al Alya is one of the anchor projects at Knowledge Economic City, aimed at developing a modern and integrated urban environment within a gated, mixed-use development offering comprehensive services. The project is designed to meet residents’ needs in terms of privacy and quality of life.
The project spans an area of approximately 270,000 sq m, with its components planned to form an integrated community supported by contemporary architectural design. It includes landscaped gardens, pedestrian pathways and carefully planned internal roads that enhance pedestrian safety and accessibility.
Al Alya comprises 2,000 residential units, including 1,420 apartments and 70 villas in addition to 408 serviced apartments managed by Hyatt International under the Hyatt House brand.
In addition, the project includes office buildings, commercial areas, a mosque, health clubs, a nursery and the Hyatt Centric Hotel with 144 hotel rooms.
A key feature of the project is the central park spanning over 40,000 sq m in addition to other open and landscaped areas, bringing the total to approximately 70,000 sq m contributing to enhanced livability within the development.
The project also includes the Riyadh Schools Complex, affiliated with the non-profit Mohammed bin Salman Foundation (MiSK) and recognised as one of the leading educational institutions in the Kingdom.
The educational complex is expected to complement Al Alya’s services by providing advanced educational offerings and high academic standards, supported by Riyadh Schools’ extensive experience in delivering distinctive curricula and modern educational methodologies.
This is anticipated to enhance the attractiveness of Al Alya and neighbouring residential developments and support the development of an integrated urban destination that combines housing, education, and quality services, said the statement from Knowledge Economic City.
As per the new contract, the number of residential units under development amounts to 1,420 units, which will be offered for sale through off-plan sales, under the supervision of the Economic Cities and Special Zones Authority, it added.-TradeArabia News Service
