Affordable Housing Co. And Bin Saedan to Build Staff Residential Complex in SPARK

King Salman Energy Park (SPARK), a global energy hub in Saudi Arabia and Affordable House Co., a subsidiary of Abdullah Bin Saedan & Sons Real Estate Group, a leading real estate developer, have announced the signing of an agreement for the development of a state-of-the-art staff residential complex at SPARK.Saudi Projects: How long has Gensler been operating in Saudi Arabia?

In line with the Saudi Green Initiatives, the unique design of the SPARK staff residential complex seamlessly integrates green technologies while setting a new sustainability standard. It will offer first-rate, safe and competitive amenities for the wellbeing of SPARK tenants and its occupiers. Planned to be developed in phases starting in 2022, the facility has a capacity of 8,000 beds and spreads over an area of more than 110,000m².

According to a statement, the project is the first step in SPARK’s mega residential and commercial program that aims to accommodate more than 50,000 residents on project completion.

Saif S Al Qahtani, President and CEO at SPARK, said: “The success of SPARK in becoming a sustainable ecosystem that attracts international investors and supports the success of Saudi society depends not just on our strategic location but on the fact that the city is built around the concept that all people working here, no matter the function they perform, can access spaces where they can live, work and play. Bin Saedan’s design is future-facing and sustainable while being competitive. It will enable our tenants to safely lodge their employees while offering first-class amenities, which is paramount for their sustainable growth and localisation value creation. We are also pleased to highlight Affordable House Co. / Bin Saedan’s commitment to incorporating advanced systems within the design, construction and operation to make the facility the first of its kind.”

The facility has a capacity of 8,000 beds and spreads over an area of more than 110,000m²

Mohammed Abdullah Bin Saedan, Managing Director of Affordable House Co., added: “We are proud to partner with SPARK to help put in place the infrastructure needed for a dynamic community where residents can lead a healthy and happy lifestyle.

Our experience in the Kingdom spans nearly a century and has lasted over many innovative projects. The signature of this agreement is a cornerstone achievement for our company with the aim of accelerating the expansion of our presence in the Eastern Province. 

We are also committed toward SPARK and the Kingdom and look forward to successfully making this project a first of its kind while setting a new standard.”

Founded in 2018, industry experts see SPARK, which spans an area of 50 square kilometres, as a catalyst for Saudi Arabia’s ambitions to diversify its economy beyond oil and place it as a global energy, industrial and technology hub with a thriving private sector. 

When the project is completed, SPARK will be divided into five regions, catering for electricity and equipment, general manufacturing, liquids and chemicals, metal formation and industrial services. It is not only meant to become a prime destination for manufacturing, petrochemicals and energy, but is also going to host residential, hotel and leisure facilities, as well as a dry port with an annual storage capacity of 8 million metric tonnes of cargo. 

SPARK is the first and only industrial city in the world to achieve Silver LEED certification. Expected to be completed by 2035, it will create 100,000 direct and indirect jobs in addition to an annual increase in GDP by $6 billion.