2021 will be another big year for us as we expect to complete most of the enabling infrastructure - such as roads and bridges - and our Construction and Coastal Villages. We will also begin construction on our first hotels, which are set to open in late 2022.
2020 was a huge year of progress for us. We made great strides towards completing our enabling infrastructure and by end of year had awarded more than 500 contracts worth nearly SAR 15 billion ($4bn).
Round Up
Major contracts were awarded in 2019 in our journey to meeting our targeted phase 1 completion date of 2022. In the space of one week, we awarded four contracts collectively worth SAR 1 billion ($266M) to Archirodon (enabling marine infrastructure), Saudi Group Al Majal Al Arabi (5,000 units of Construction Village), an ARCCO-Speed House joint venture (another 5,000 units of Construction Village) and Saudi Amana Contracting (management hotel).
This was soon followed by contract awards for the development of Coastal Village residential area to Al Majal Al Arabi, Coastal Village ground-work improvement to HUTA Hegerfeld and Saudi Consulting Services (Saudconsult), the design for the destination’s international airport to Foster + Partners, the construction of the coastal and inland connecting road links at the destination to leading Saudi Arabian contractor Binyah and the supply of structural low-carbon concrete to AlFalah Ready Mix.