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Qasr Khozam Area Development Project
Overview
Rejuvenation of Qasr Khozam area in Jeddah downtown, spanning over an area of 4.12 million square meters. The first phase includes evacuating and demolishing works.
Under the project, which is implemented in several phases, four slum areas will be developed (Al-Sabiel, Al-Nuzlah, Al-Qurayyat, and parts of Al-Balad neighborhood), in addition to establishing shopping malls, cultural centers, commercial and residential complexes. A development plan for infrastructure and public facilities will be also prepared.
Project Information
- Real Estate > Landlords and developers
- Khozam Real Estate Development Company was established on October 14, 2009 exclusively for the development of Qasr Khozam project. Jeddah Development & Urban Regeneration Co. owns 49% stake in the company, while Dar Al-Arkan Real Estate Development Company owns the remaining 51%.
- The first phase of evacuation and demolishing was completed.
- The company announced that the design and studies were completed in preparation for the re-launch of the project, and it is planned to start the infrastructure works in 2021.
- In 2021, the company announced that the first phase’s infrastructure designs were completed, the contractor was named, and the initial concept design of the G+7 prototype building was approved, awaiting the final approvals to start the construction works of the first phase.
- In its 2022 board report, the company revealed that the first phase’s engineering drawings were completed and ready for construction. The company is awaiting final approvals to commence construction.
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Project Developments
A review of Dar Al Arkan projects, investors, board ownership changesArgaam Special20/04/2022
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