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King Salman Airport Saudi Arabia

April 4, 2023April 4, 2023

Saudi Arabia’s King Salman International Airport is expected to become one of the largest in the world featuring six parallel runways. Currently, the world’s largest airport by area is King Fahd International, which is also located in Saudi Arabia.

The King Salman International Airport, announced by the Crown Prince Mohammed bin Salman bin Abdulaziz, Prime Minister and Chairman of the Council of Economic and Development Affairs, Chairman of the Public Investment Fund (PIF) is expected to cover an area of approximately 57km square, featuring six parallel runways and the existing terminals named after King Khalid.

The airport will also include 12km square of airport support facilities, residential and recreational facilities, retail outlets, and other logistics real estate. By 2030, the airport aims to accommodate up to 120 million travellers and 185 million travellers, with the capacity to process 3.5 million tons of cargo by 2050.

The airport project is in line with Saudi Arabia’s vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh’s population to 15 to 20 million people by 2030, PIF said in a statement.

“It will become an aerotropolis centred around a seamless customer journey, world-class efficient operations, and innovation. Riyadh’s identity and the Saudi culture will be taken into consideration in the airport’s design to ensure a unique travel experience for visitors and transit travellers,” PIF said.

The airport design will reflect Riyadh’s identity and the Saudi culture to ensure a unique travel experience for visitors and transit travellers. The new airport will be powered by renewable energy.

The King Salman International Airport is expected to contribute 27 billion Saudi riyals annually to non-oil GDP and to create 103,000 direct and indirect jobs, in line with Vision 2030 objectives, the statement added.

King Salman International Airport

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Property & Real Estate

Red Sea International awarded $35 million NEOM contract

October 26, 2020

Neom has announced that it has awarded a $35 million contract to Red Sea International for the design, build and facilities management of accommodation units, offices and all supporting building amenities within the giga-development.

According to a $20.7 million contract signed earlier this week, Red Sea International will provide engineering, procurement and construction services for accommodation units, offices and all supporting buildings in Neom. The four-month deal will be recorded over the period beginning from the fourth quarter of 2020 until the first quarter of 2021.

In addition, the recently signed $14 million contract will cover facilities management, operations and maintenance services for accommodation units, offices and all supporting buildings. This is a three-year contract, extendable for an additional cost, the company said in a statement to the Saudi Stock Exchange (Tadawul). It also added that the new deal will be reflected in the financial statements over the period beginning from Q1 2021 to Q4 2023.

Red Sea International

Under the terms of the contract, the scope of work will include comprehensive facility management and camp operations services including catering, housekeeping, laundry maintenance, medical, security and recreational services.

Located on the Red Sea coast, Neom is a $500 billion investment and part of the Kingdom’s Vision 2030, which aims to attract foreign investment and create jobs in an effort to reduce the kingdom’s dependence on oil. The first phase of the giga-project will end in 2025, and the whole project is expected to be completed with a period of 30 to 50 years.

Saudi Arabia Giga Projects are beginning to gather pace as they look to unlock the full potential of their countries natural environments and open the doors to international investment, tourism and high-end luxury resorts. The prospect of Real Estate and Property investments is huge.