King Salman Energy City (SPRK), the global integrated system in the field of localization of energy industries and services in Saudi Arabia, revealed the signing of an agreement to develop the Spark residential complex according to the latest projects and standard international, to be the first sustainable green residential complex in the country.
The project will be undertaken by the Saudi Al-Maskan Al-Missar Company, a subsidiary of Abdullah bin Saedan & Sons Real Estate Group, with an investment of 375 million riyals ($ 100 million). Where is the design of the residential complex is in lineWhich is located in eastern Saudi Arabia, with the ecological initiatives adopted by the Kingdom in Vision 2030, as it will integrate green technologies with the latest standard of sustainability, while providing services and competitiveness for tenants, according to the newspaper Asharq Al-Awsat.
The start of construction work on the residential complex is expected in the course of 2022, to be developed gradually over a period ofarea of 110,000 square meters.
Eng. Saif Al-Qahtani, President and CEO of King Salman Energy City, said that success in forming a sustainable ecosystem that attracts international investors supports the Saudi company not only because of its strategic location, but also because it is built on the foundation and concepts. of life, work and free time.
He added that the design was done to the highest standards standard of sustainability and competitiveness in step with the future, which will allow tenants to achieve sustainable growth by providing residential buildings with services and high quality, aiming at the integration of advanced systems and technologies in the design, construction and operation, which will make them the first structure of its kind in the region.
For his part, Mohammed bin Saedan, managing director of Easy Housing Company, said that the partnership with “Spark” and the contribution to the development of the necessary infrastructure enhance the creation of a dynamic and lively society and offer residents a healthy life accompanied by quality of life facilities.
He added: “Through our local experience that spans more than a hundred years, it is possible to adopt innovative real estate ideas and products that live up to the aspirations of the investor. Therefore, we are committed to the Kingdom for the success of the project and making it the first of its kind in terms of use of standard new and sustainable “.
The project involves three stages of implementation: Spark has almost completed the first stage, consisting of infrastructure, roads, structures and asset real estate that were built on aarea of 17 square kilometers.
The King Salman Energy City “SPARK” (in the east of the Kingdom) adopts an integrated industrial ecosystem and spans aarea than 50 square kilometers that is in development stage to become in future the gateway to the regional energy sector. It is also the first industrial city in the world to receive a LEED Silver certificate.
Spark provides solutions for infrastructure, roads, utilities and real estate, in compliance with the standard to global investors in the oil and gas, machinery and equipment, electrical, environmental, non-metallurgical and technical sectors.
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