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Real estate developer Gulf Related has awarded a residential construction contract to Drake & Scull Construction International (DSC) for US$133mn
The residential project is called Antara and is located in Saudi Arabia. Antara is a self-contained residential complex meant for expatriates in the Kingdom, with the King Abdullah Financial District as well as the King Khalid International Airport in close proximity.
DSC is expected to complete construction in two years, stated project officials. The company will complete all the civil, architectural and MEP works, including structural and external works for the residential and ancillary buildings on the project site.
Karim El Solh, co-managing partner of Gulf Related, said, “Antara will be another world-class development from Gulf Related, combining luxury living with resort style family comfort for expatriates in the new heart of Riyadh. Drake & Scull Construction has established its credentials in the Saudi Arabian market, and we look forward to delivering an iconic landmark on Riyadh’s urban landscape. The launch of the Antara residential compound should generate an attractive rental income and a significant long-term cash yield for Gulf Related.”
Antara has been designed in a Mediterranean-resort village style. It comprises a built-up area (BUA) of 98,115 sq m, consisting of 520 homes. Within an area of 157,300 sq m, there will be a pre-school, village market, main clubhouse, and administrative building with a sports and fitness centre, tennis, basketball and volleyball courts, bowling, billiards and barber shops, library, book stores, restaurants, cafes and community lounges, revealed officials from DSC.