Saudi Arabia’s Abdullah Al-Othaim Investment Company has announced a $1.9bn (SR7bn) entertainment development in Riyadh.
The Konoz Box of Treasures, project is named after a diverse array of gemstones embodied in the project’s architecture.
Konoz Box of Treasures includes 50,000sq m of state-of-the-art commercial office spaces and a 20,000sq m entertainment city aimed at supporting Riyadh’s developing tourism and entertainment industry.
Saudi firm building treasure city
In addition to its commercial spaces, the Konoz project features 15,000sq m of green areas, parking for 5,500 vehicles, a 120,000sq m commercial centre, a luxury hotel with 250 rooms, 120 serviced residential apartments, and an additional 135,000sq m residential apartment complex which includes 700 apartments.
Abdullah bin Saleh Al-Othaim, Chairman of the Board of Directors of the Abdullah Al-Othaim Investment Company, said that the Konoz project underscores the company’s expansion strategy to solidify its status as a leader in large-scale development initiatives.
The project embodies the ongoing growth and development taking place in Riyadh and Saudi Arabia, driven by the country’s Vision 2030, which aims to transform the nation into a sustainable and diverse economy.
The Group CEO of the Abdullah Al-Othaim Investment Company, Meshaal Bin Omairh, said the Konoz project aligns with the company’s vision of developing modern and innovative projects in a strategic location in Riyadh to create a premier destination, enhance the quality of life in the city and to create jobs.
The project was designed by the Benoy Company, with 75 years of experience in designing multi-use projects and implementing the latest construction technologies.
The unveiling of Konoz in the capital city of Riyadh is an indication of the city’s drive towards becoming a global hub.
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