Arab News, Saturday, Jan 08, 2022 | Jamada Al-Aakhirah 5, 1443
Saudi Affordable House Co. to build $100m residential complex at SPARK
Saudi Arabia:
A subsidiary of Saudi Abdullah Bin Saedan & Sons,
Real Estate Co. Affordable House has agreed to build a $100 million staff
residential complex at King Salman Energy Park, known as SPARK.
The residential complex’s design integrates green
technologies and sets a new sustainability standard in line with the Saudi Green
Initiatives.
Planned to be developed in phases starting in
2022, the facility has a capacity of 8,000 beds and spreads over an area of more
than 110,000 square meters.
“Bin Saedan’s design is future-facing and
sustainable, while being competitive,” CEO of SPARK, Saif S. Al Qahtani, said.
“It will enable our tenants to safely lodge their
employees while offering first class amenities. This is paramount for their
sustainable growth and localization value creation,” he added.
Founded in 2018, King Salman Energy Park is a
fully integrated industrial ecosystem, spanning an area of 50 square kilometers.
It is being developed with a vision to become the leading gateway to the
regional energy sector.