(MENAFN - Arab News) Saudi Aamal Contracting Company has signed a contract for the management and operation of the Thuwal Corniche project, which includes a wharf, boat maintenance center and a marine sports and recreation center.
The project also includes a fish market, multipurpose commercial center, restaurants and stalls, open areas for displays and recreation facilities for children.
Muhammad Mustafa, manager of Saudi Aamal, said his company would manage the Corniche in the best manner, following the directives of Custodian of the Two Holy Mosques King Abdullah.
Muhammad Hisham Al-Ameeri, managing director, signed the 10-year contract on behalf of the company.
Mustafa Rizq, financial consultant for Saudi Aamal, said his company offers a number of investment opportunities in commercial and tourism projects for prospective investors.
Muhammad Anwar, marketing manager, said the company would implement a number of projects in Thuwal to develop the area, which according him has huge tourism and investment potential.
Meanwhile, a major construction summit began in Jeddah yesterday with the participation of leading contractors, real estate and construction companies and government departments to discuss various important topics including a pipeline project for housing and commercial buildings and hotels in Jeddah.
The summit comes in line with growing government spending in the housing sector, an increase in the capital of the Saudi Real Estate Fund and government incentives for the public investment sector.
The summit discussed ways and means to develop the building sector, especially the construction of towers.
Saleh Muradwich, CEO of Drake & Scull International, participated in the discussions related to the construction of the tallest tower in the Kingdom.