Tilal unveils $1.6bn mixed-use luxury development in Khobar
, November 14, 2024
Tilal Real Estates, a leading real estate company in Saudi Arabia, has unveiled its premium mixed-use project - Heart of Khobar (HOK) - which will come up in the Eastern Province at an investment of SAR6 billion ($1.63 billion).
Launching the project at the ongoing Cityscape Global exhibition in Riyadh, Tilal said it is aimed at providing adequate housing for Saudi families in a sustainable and pedestrian-friendly urban environment and promoting an integrated lifestyle in the heart of Al Khobar.
Strategically located in the luxurious Al Rawabi neighbourhood, the HOK project extends over a total area of 268,813 sq m.
The project will be implemented in three phases, covering different areas, including residential units, offices, hotels, and recreational facilities, which enhances the integration of its design to cater to needs of the local community.
The project features various facilities, including a shopping mall, business park, community centre, cinema, hotels, serviced apartments, co-working spaces, and recreational venues, making it an ideal environment for living and working.
The project marks a major milestone in alignment with Saudi Arabia’s Vision 2030, aiming to provide a sustainable, pedestrian-friendly urban environment and foster a fully integrated lifestyle in the heart of Al-Khobar, said a top official.
“The “Heart of Khobar” project is a strategic step towards the future of smart and integrated cities in the Kingdom, as it contributes to achieving an exceptional quality of life for residents and visitors alike," remarked its CEO Abdulrahman AlBassam.
It will be one of the most prominent integrated communities in the kingdom, which embodies the concept of the “urban village”, he stated.
It boasts a total of 14 components, including residential and commercial facilities, hotels and recreational venues.
AlBassam said it will offer a safe and flexible environment for residents with a combination of housing, work and fun in one place.
"Our main goal is to provide an exceptional living experience that combines sustainability, comfort, and luxury," stated the top official.
Notably, the project is distinctive in its unique design that considers the needs of pedestrians, with up to 89% mobility on foot, which facilitates access to most utilities and services without the need for cars.
This design enhances public health and social interaction among residents and creates an integrated living environment in the heart of Khobar.
“We look forward to making the ‘Heart of Khobar’ a role model in achieving the Kingdom’s Vision 2030 and enhancing Khobar’s status as an attractive destination for living and investment,” he added.-TradeArabia News Service
