The envisioned project aims to establish a mixed use development with a total of 24,563 sqm of Gross Leasable Area (GLA). This development will encompass a lifestyle retail complex, an upper midscale hotel, and a sports complex to serve the needs of the community. The retail complex will comprise various line stores, F&B outlets, and an anchor. To enhance visitor convenience, the complex will feature landscaping and open spaces, along with an adequate number of surface parking bays. Additionally, there will be an 8-floor upper midscale hotel offering a total of 273 keys, encompassing three types of units: standard, deluxe, and suite.
Accessibility: Direct access from Airport Road and indirect access from Second Ring Road
Proximity to Demand Generators: Al Rashid Mega Mall, National Guard Hospital, and Madinah boulevard.
Sector
Investment Highlights
- Expected Investment size of 237,916,889 SAR
- Total Revenues: 1,437,676,165 SAR
- Payback Period: 9 Years
- Land Lease Term: 35 Years
- Estimated Project IRR (%): 13.1%
- Estimated Equity IRR (%): 15.0%