Al-Tamimi Group, Satco to build-operate Neom's Construction Village
Agreements inked to construct and maintain worker accommodation for gigaproject in Saudi Arabia
Al-Tamimi Group and Saudi Arabian Trading & Construction Co (Satco) have been awarded a contract each to build and operate 'Construction Village' housing 30,000 workers from the team behind $500bn (SAR1.9tn) Saudi Arabian Neom futuristic super-city, the Public Investment Fund-backed (PIF) gigaproject launched at the Future Investment Initiative 2017 conference in Riyadh by Crown Prince HRH Mohammad Bin Salman as part of the kingdom's Vision 2030 economic diversification mandate.
In a tweet, Neom said the worker village would be built in line "with the best IFC [and] World Bank standards to offer the best living environment".
NEOM reached a key milestone on its journey signing investment contracts with 2 leading national investors (Al-Tamimi Group & SATCO) to build & operate a construction village to house 30K workers, in line with the best IFC/World Bank standards to offer the best living environment pic.twitter.com/bwodFt8KCK— NEOM (@NEOM) September 8, 2019
Local daily Saudi Gazette, citing a statement, said Neom would expand Construction Village to accommodate 100,000 residents.
Al-Tamimi Group has reportedly been contracted to build two residential clusters for 10,000 workers each, while Satco will build a single residential area with the same capacity.
Both Al-Tamimi Group and Satco will operate Construction Village for 10 years, Saudi Gazette added.
The daily quoted Neom's chief executive officer, Nadhmi Al-Nasr, as saying: “The awarding of these contracts is another milestone in our journey to turn the Neom dream into a reality.
“Building a gigaproject the size of Neom is a great challenge that requires manpower to settle there for years to come.”