Pakistani News

By MD RASOOLDEEN | ARAB NEWS
Published: Dec 14, 2010 23:33 Updated: Dec 14, 2010 23:33

RIYADH: A new SR1.1 billion industrial city is to be built in Riyadh in line with the Kingdom’s strategy to involve the private sector to strengthen its industries and achieve economic development, said Dr. Raeyed Al-Dakheel, chief executive officer of Mawten Real Estate Company.

The new city — called Industrial Gate City — is to be built on an area of 6.5 million square meters close to the present industrial city in Riyadh, said Al-Dakheel while speaking on the sidelines of The Cityscape Riyadh 2010 that concluded here on Tuesday. The model city will be equipped with a network of modern roads, and will have industrial, commercial and residential zones with promising investment opportunities.

“Mawten has allocated SR1.1 billion for this project which will provide a series of plots for industrial usage, warehouses, commercial centers and residential zones, in addition to public service areas equipped with high quality infrastructure in accordance with international standards,” said Al-Dakheel.

He added that the city will be a multi-use industrial city built according to the specification of the Saudi Industrial Property Authority.

“This city, it is hoped, will be a model city to showcase the private sector’s initiatives as a key partner for the Kingdom’s industrial development and in meeting the increasing demand for industrial lands to develop local industries,” he said.

Infrastructure for the city includes an electric power network, water and sewage systems, and a water treatment plant. The city will be built along modern lines and consist of fully-fledged services and commercial utilities that will serve its residents, meeting their day-to-day needs.

Mawten is currently developing a series of landmark projects. These include the Bella Casa housing compound in the north of Riyadh close to Princess Noura Bint Abdulrahman University for Women and Al-Imam Mohammed bin Saud University.

The project will provide a distinguished residential district comprising residential units of high quality villas and apartments with distinctive services including all utility networks and open areas with green landscaping, pedestrian walkways and car parks. Mawten is also to build two quality hotels in Riyadh and Makkah.