First contract expected to be tendered within three months.
Tanmiyat will soon launch a multi-billion-dollar residential project in Saudi Arabia’s religious centre, Mecca, the developer exclusively revealed to The Big Project at Cityscape Global. “This is a very interesting residential project that we will officially be announcing in the next two-to-three months. It is currently in the planning stage, but all necessary approvals have been received and we will be awarding the first contracts within three months,” said Tanmiyat advisor in charge Dr Wan Muhamad Hasni Wan Sulaiman.
The KSA-based company has a number of smaller projects ongoing in Saudi Arabia, but was exhibiting its Dubailand Living Legends project at the Dubai Cityscape event.
The Living Legends development scheduled for completion in 2013 will comprise 500 villas and 300 apartments.
“We will deliver 200 of the villas by the end of 2011 and 300 apartments across three blocks by the end of 2013 to complete phase one,” Sulaiman said. The project will be completed in five phases with progress dependent on market conditions, he added.
“The Dubailand delays have affected us a lot, as well as our customers. The cashflow is slow and contractors are demanding, customers and authorities are demanding — so as a developer we’re squeezed in the middle, but we have to deal with it,” explained Sulaiman.