KM Properties ties up with urban planning firm
The Dubai-based real estate developer has joined forces with Terry Farrell & Partners as part of expansion plans.
Dubai-based real estate developer, KM Properties, has joined forces with international urban planning experts, Terry Farrell & Partners, as the company enters into a period of rapid expansion.
The partnership will see Terry Farrell & Partners working on a number of real estate developments for KM Properties across the Middle East and worldwide. The two companies have a history of co-operation; Terry Farrell & Partners has already worked on both master-planning and building design projects for KM Properties.
"Our partnership with Terry Farrell & Partners has a long and successful history. Terry Farrell & Partners has a worldwide reputation for excellence in its design, consultancy, and execution of projects and our joint venture reinforces KM Properties' standing in the industry as a leading partner of choice," said Dr. Mohamed Haddad, Chairman of KM Holding, parent company of KM Properties.
The UK-based firm is a world-renowned practice of planners, urban designers, masterplanners and architects.
"We are elated with the trust and confidence that KM Holding and KM Properties has placed in our company as one of their partners for major development projects in the world starting off with projects planned in Saudi Arabia," said Gavin Erasmus, director of Terry Farrell & Partners.
Projects in Saudi Arabia are high on KM Properties' list of priorities, and already the joint venture is working on a new mixed-use waterfront development in Jeddah, which will include commercial, residential and hotel components, located in a prime location at the Red Sea city. The cost of this landmark project is estimated at SR1 billion ($265 million).
The joint venture will also see Terry Farrell & Partners assisting KM Properties on a number of other developments in the Kingdom, including projects in Dammam and Riyadh, where KM Properties has established offices.