Rakaz Real Estate Company has finalized all arrangements for the launch of the «Downtown Rakaz» project in Al-Khobar at a public auction next Wednesday, May 13, 2015, in the main hall of the Sultan Bin Abdulaziz Center for Science and Technology (SITEC) complex, located on the Al-Khobar Corniche.
On this occasion, Abdulmohsen bin Hassan Al-Qahtani, Vice Chairman of the company’s Board of Directors, said that the «Downtown Rakaaz» project is well-suited to this province, which is brimming with investment opportunities, especially since it has become the gateway of the Kingdom of Saudi Arabia to the Gulf states in general, and Bahrain in particular.
Al-Qahtani highlighted the advantages of the «Downtown Rukaz» project, and its direct impact on the future of investment activity in Al-Khobar, explaining that the project will be a major asset to the Eastern Province in general and Al-Khobar in particular, given that it will offer 41 investment products. The project is located at the intersection of King Faisal bin Abdulaziz Road and Prince Faisal bin Fahd Road (Pepsi Street). The total project area is 106,914 thousand m², and it offers a full range of services, such as electricity, sewage, telephone service, water, a public park, and a mosque.
Al-Qahtani confirmed that the project’s infrastructure work has been completed in accordance with the highest specifications and standards, such as the installation of 1,900 linear meters of sewage pipes throughout the project, as well as the installation of water pipes totaling 1,350 linear meters in length, and the placement of a 10-centimeter-thick clay layer, as a foundation for the roads over an area of 28,133 square meters, as well as laying a base layer of limestone of varying thickness totaling 20 cm over an area of 28,133 square meters, overlaid with a 7-centimeter-thick layer of asphalt covering an area of 19,734 square meters. We have also completed the installation of stormwater drainage pipes for the project, All of this reflects our commitment at Rakaaz to delivering infrastructure befitting this project, which will serve as Al-Khobar’s commercial hub and a hub for investment projects, high-rise towers in both the commercial and residential sectors, and entertainment services.
