A development contract has been signed for the Al-Khobar Bayfront project in Saudi Arabia.
The contract was signed between Adjan Real Estate Development Company, a Saudi-based lifestyle destination developer, and Al Muhaidib Group “AMG”. The latter is one of the largest conglomerates and investment groups in the Kingdom of Saudi Arabia and the Middle East.
As per the contract, Adjan Real Estate will be responsible for the project’s development, marketing as well as operation.
Overview of the project
The $66.5 million mixed-use project will be developed on the northern part of Al-Khobar beach. It will span approximately 100,000 square meters from the shore and include a 1,6000 square meters island.
Upon completion, the Al-Khobar Bayfront project in Saudi Arabia will offer an array of retail alongside a mix of upper casual as well as fine-dining restaurants. Moreover, the development will include Saudi’s very first Blue Flag-Certified International standard beach at the Al-Khobar Corniche.
According to Abdul Qadir Al Muhaidib, Senior Portfolio Manager at Al-Muhaidib Group, the project will offer recreational as well as leisure features that are suitable for visitors and families.
The CEO of Adjan Real Estate Development Company also spoke about the project. Mohammed Al-Otaibi said that the Al-Khobar Bayfront project offers an exceptional and exquisite quality of life.
Expectations for the Al-Khobar Bayfront project in Saudi Arabia
Al-Otaibi explained that the project aims to transform Al-Khobar into one of the top 100 global cities, which is one of the Saudi Vision 2030 realization plans.
Mohammed Al-Otaibi also said that the Blue Flag requirements will be keenly followed. All towards an effort of increasing the quality of services within the project’s facilities. The Blue Flag standards include stringent international technical conditions. Moreover, the Blue Flag includes strict environmental requirements. Of which are also in alignment with Saudi Arabia’s principles towards supporting the environment’s safety.
Additionally, the project aims to enhance the region’s beach experience through the development of an extraordinary destination. This, as a result, will attract more visitors to Al-Khobar.