Saudi: King Salman Energy Park launches 459-unit residential project

Saudi: King Salman Energy Park launches 459-unit residential project

King Salman Energy Park (SPARK), the leading energy industrial ecosystem, has partnered with Affordable Housing Company, a unit of Saudi developer Bin Saedan, for the launch of two key projects - a residential and a commercial one - in Saudi Arabia.

Spread over a 50,000 sq m area, these projects are aimed at strengthening Spark's offering for those looking to set up their companies in the kingdom and enhances the quality of life for all residents in the city.

Spark and Affordable House Company jointly broke ground on the residential apartment complex, featuring 459 fully furnished apartments with a combination of one-, two- and three-bedroom layouts.

These apartments are intended for long stays incorporating the latest smart technologies - supporting Spark’s offering to tenants and clients establishing their business in Saudi Arabia.

The total land size for the project stands at close to 30,000 sq m and represents an investment of $50 million. The development will be constructed in phases – with the first planned for completion by Q4 2025.

This marks the third investment between Spark and Bin Saedan Group, a leading real estate developer in the Kingdom of Saudi Arabia with over 80 years of experience.

The Saudi energy park additionally signed a lease