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KAEC signs contract for development of Labor Village housing complex
(MENAFN- Arab News) King Abdullah Economic City (KAEC) has signed a contract with the alliance between Crete International Contracting and Dar Altasmem for the development of the first and second phase of the Labor Village housing complex which will accommodate 2500 workers and supervisors employed by companies in the Industrial Valley. The total area of the Labor Village housing complex will be 48500 sqm.
Phase one and two of the Labor Village will occupy approximately 36000 sqm of built-up area including infrastructure development and electromechanical works in addition to roads sidewalks landscaping and fences.
When fully completed the Labor Village housing complex will provide about 5000 beds that will be divided into various types of residential units to suit all categories of manpower allowing companies to choose according to their needs in terms of a specific floor or building and the type of rooms required.
Fahd Al-Rasheed Group CEO and MD of KAEC stated: 'The construction work started in January and the completion of the first phase will end by February 2015 while work on the second phase is expected to finish by July 2015.
He added that the leasing process began in Q3 2014 and about 1000 workers are scheduled to receive their rooms during Q1 2015 while another 1500 beds will be available by Q3 2015.'
Waleed Al-Bakri an architect and president of HOD and spokesperson of the construction joint venture stated: "We are proud of our contribution to supporting KAEC and will use the long expertise of both companies in the Saudi construction sector to implement this project according to the agreed international specifications and upon delivery schedule."
Charles Biele CEO of residential development in KAEC stated: 'Located in the heart of the Industrial Valley the village consists of modern purpose-built accommodation that provides comfortable and convenient living accommodation.'
Phase one and two of the Labor Village will occupy approximately 36000 sqm of built-up area including infrastructure development and electromechanical works in addition to roads sidewalks landscaping and fences.
When fully completed the Labor Village housing complex will provide about 5000 beds that will be divided into various types of residential units to suit all categories of manpower allowing companies to choose according to their needs in terms of a specific floor or building and the type of rooms required.
Fahd Al-Rasheed Group CEO and MD of KAEC stated: 'The construction work started in January and the completion of the first phase will end by February 2015 while work on the second phase is expected to finish by July 2015.
He added that the leasing process began in Q3 2014 and about 1000 workers are scheduled to receive their rooms during Q1 2015 while another 1500 beds will be available by Q3 2015.'
Waleed Al-Bakri an architect and president of HOD and spokesperson of the construction joint venture stated: "We are proud of our contribution to supporting KAEC and will use the long expertise of both companies in the Saudi construction sector to implement this project according to the agreed international specifications and upon delivery schedule."
Charles Biele CEO of residential development in KAEC stated: 'Located in the heart of the Industrial Valley the village consists of modern purpose-built accommodation that provides comfortable and convenient living accommodation.'
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