Saudi: Alfanar largest single investor in record public-private partnership for social infrastructure in NEOM

Saudi: Alfanar largest single investor in record public-private partnership for social infrastructure in NEOM

Saudi Arabia - Alfanar Global Development, a part of Alfanar Group, is investing SR10 billion into developing and operating temporary residential communities in NEOM. This project, awarded as part of a record SR21 billion public-private partnership (PPP) for social infrastructure, will house the growing workforce in different parts of the region, including Oxagon where the future of advanced and clean industries is currently being constructed. The project supports NEOM’s rapid transformation by designing, building, and operating five communities for the growing workforce across the northwestern region of Saudi Arabia. Since achieving financial closure with three major commercial banks - Riyad Bank, SAB, and Alinma Bank – Alfanar has made significant progress with the project's mobilization and execution. In total, the five residential communities awarded to Alfanar will cover an area of four million square meters and accommodate 50,000 occupants once complete. As part of the awarded project, communities are to offer a range of lifestyle services and facilities, including housekeeping and multi-purpose sports fields to offer a comfortable living experience. By investing in advanced building and maintenance technologies, Alfanar will operate in the communities sustainably through computerized waste management facilities, wastewater reuse solutions, and captive solar power generation facilities. On