Neom awards Construction Village contracts to Al-Tamimi Group and Satco
Neom, the flagship project of Saudi Arabia’s post-oil diversification plan, is being built on a 26,500-sq-km area in the northwestern of KSA
Al-Tamimi Group and Saudi Arabian Trading & Construction Company (Satco) have been awarded contracts to build, finance and operate Neom’s Construction Village for a period of 10-years. The accommodation at Construction Village will host workers who will move to the site to develop various areas of the Neom megaproject.
As per a statement, Al-Tamimi Group will develop two residential areas within the village, while Satco will build the third area. Each area will house 10,000 residents, and both firms will be responsible for operations for 10-years. The project can also be expanded, as Neom develops, to accommodate more than 100,000 residents.
Both developers will build the residential areas with conditions in line with the best international standards for contractors’ accommodation, as per the IFC (International Finance Corporation), Neom said.
“The awarding of these contracts is another milestone in our journey to turn the Neom dream into a reality and I’m happy to see our partners joining us to make this happen. Building a giga-project the size of Neom is a great challenge that requires manpower to settle there for years to come and we are keen on creating the best environment for those who will work and live there,” said Nadhmi Al-Nasr, CEO of Neom.
Residents will be accommodated in living areas built around green spaces with orchards, vegetable plots and ornamental gardens. The village will have waste management and recycling facilities to eliminate the landfill and to protect the environment. Residents will also be able to enjoy recreation facilities including cricket, soccer fields, tennis, basketball courts, gymnasiums, running tracks, swimming pools and indoor games rooms, the statement from Neom said.
Tariq Al Tamimi, chairman of Tamimi Group added, “We are planning to build these housing projects for the people who will build Neom with the highest standards of quality and to set a benchmark for all future projects.”
Malek Antabi, chairman and CEO of Satco commented, “Involvement with Neom is not only an investment in the present, it is an investment in the future of Satco. Our services will achieve a healthier employee retention rate and a higher workforce morale, which by itself will increase productivity. Complying with the high standards of Neom, will actually make it much easier for Satco to meet its objectives on this project.”
