Masterplan is sorted for Ajmakan

Saudi Arabia-based Al Shoula Holding Group, a joint venture between the UAE's Tameer Holding and the Land Company, has signed a deal with Japan's Nikken Sekkei to design the master plan for its US $1.6 billion (SR 6billion) real estate project in Saudi Arabia.

Saudi Arabia-based Al Shoula Holding Group, a joint venture between the UAE's Tameer Holding and the Land Company, has signed a deal with Japan's Nikken Sekkei to design the master plan for its US $1.6 billion (SR 6billion) real estate project in Saudi Arabia.

Called Ajmakan, the city will be in the Al-Khozama District in Riyadh and will cover 1.7 million m2.

It will be made up of commercial buildings, villas, palaces and a five-star hotel.

"I am so glad to see Ajmakan moving towards completion, especially since this megaproject is the fruit of a special alliance between Al Shoula, The Land and Tameer," said Omar Ayesh, president of Tameer Holding.

"It represents the cooperation between UAE and Saudi Arabian firms, where large and leading projects are creating a huge benefit for both countries."

Al Shoula Holding Group also plans other projects in Saudi Arabia, as well as nearby markets.

"Ajmakan will be the gate for more megaprojects, adding value to the Kingdom's property market," added Ayesh.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020