New Dammam project to house 50,000 residents

Saudi developer Adel Real Estate has completed the blueprint for Adel District, which will accommodate 50,000 people in Dammam.

Plots will be put for sale in the project, spanning 5.6 million sq m, in the first quarter of 2024, the developer said in a statement.

The urban development will comprise five neighbourhoods, which include residential buildings, office spaces, mosques, shopping malls and retail centres, health centres, educational and recreational facilities, creativity and innovation incubators and Adel Park.

• Saudi mortgage lending rises despite GDP slowdown
• Kingdom Holding, Red Sea Global to develop $533m resort
• Work starts on new $40m logistics park at Dammam port

Key infrastructure and public works are 100 percent complete, the statement said. Water, electricity, lighting, roads, telephone, rainwater drainage and sewage networks are already in place.

One of the key features will be the West Boulevard, which will support the growth of its markets, shopping centres, restaurants and cafes.

No financial details on the project were disclosed.

In September 2022, Saudi Arabia was described as the biggest construction site on the planet with projects valued at over $1.1 trillion underway in the kingdom, according to global real estate consultancy Knight Frank.

“With over 555,000 residential units, more than 275,000 hotel keys, in excess of 4.3 million sq m of retail space and over 6.1 million sq m of new office space expected by 2030, the planned construction in the kingdom will easily make Saudi Arabia the largest construction site the world has ever known,” said Faisal Durrani, head of Middle East research for Knight Frank.