RIYADH, Saudi Arabia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The Abdullah Al-Othaim Investment Company has debuted its newest project Konoz "Box of Treasures" in Riyadh, Saudi Arabia, at the cost of over 7 billion riyals. The project's name, inspired by the diverse array of gemstones, embodies the visual and architectural representation of gemstones in its various zones.
The project encompasses 50,000 square meters of state-of-the-art commercial office spaces and a 20,000 square meter entertainment city aimed at supporting Riyadh's thriving tourism and entertainment industry.
In addition to its commercial spaces, the "Konoz" project features 15,000 square meters of green areas, parking for 5,500 vehicles, a 120,000 square meter commercial center, a world-class a luxury hotel with 250 rooms, 120 serviced residential apartments, and an additional 135,000 square meter residential apartment complex which includes 700 apartments.
Abdullah bin Saleh Al-Othaim, Chairman of the Board of Directors of the Abdullah Al-Othaim Investment Company, stated that the "Konoz" project underscores the company's expansion strategy to solidify its status as a leader in large-scale development initiatives. The project embodies the ongoing growth and development taking place in Riyadh and Saudi Arabia, driven by the country's Vision 2030, which aims to transform the nation into a sustainable and diverse economy.
The Group CEO of the Abdullah Al-Othaim Investment Company, Meshaal Bin Omairh, emphasized that the "Konoz" project aligns with the company's vision of developing modern and innovative projects in a strategic location in Riyadh to create a premier destination, enhance the quality of life in the city and to create jobs. The project was designed by the Benoy Company, with 75 years of experience in designing multi-use projects and implementing the latest construction technologies.
The unveiling of "Konoz" in the capital city of Riyadh is an indication of the city's drive towards becoming a global hub. This seven-billion-riyal plus project includes cutting-edge commercial offices, retail and F&B with an entertainment city, a luxury hotel and serviced apartments, as well as premium residential offering with ample green space making it a top destination for tourism and entertainment. This is in line with the comprehensive Riyadh Strategy, which aims to transform the city into a hub for investment, innovation, and tourism.
Photos accompanying this announcement are available at:
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