01 September 2023

Kerten Hospitality, an Ireland-based mixed-use, ESG and lifestyle operator, has reached an agreement with Neom, the developer of a mega futuristic city in north eastern Saudi Arabia, to launch its House Residence brand within the Oxagon development in the kingdom.

As per the deal, it will open an upscale 200-unit serviced apartments, at the heart of Oxagon’s first residential community, which is set to open its doors in 2025.

Upon completion, Neom will be fully powered by clean energy, utilising renewable resources such as solar, wind, and green hydrogen-based energy.  In line with these plans, Saudi Electricity Company (SEC) last month signed two important deals to supply Neom with its power requirements. 

The first contract has awarded to Al Gihaz Contracting Company for the setting up of a substation within Neom.  The contract worth SR744 million ($198 million) was for the Neom Mountain Bulk Supply Point (BSP), which includes construction of new indoor 380/132kV gas insulated substation (GIS).

The second contract awarded by SEC, worth $145 million, went to Hyundai Engineering & Construction (Hyundai E&C) to build a 525kV HVDC transmission line covering a total distance of 605 km – from Yanbu, a power production hub on the western coast of Saudi Arabia, to Neom.

 According to Hyundai E&C, the entire project work is targeted to be completed in July 2027. 

• Bechtel lands PMC deal for New Murabba
• Kerten to set up 200 residences in Neom
• Parsons wins major contract for KAFD
• $2.3bn Shuaibah solar projects get funding
• $985m deal awarded for The Avenues Khobar
• Diriyah Phase One gets LEED certification
• RSG marks six years of progress on Red Sea
• Zetros geared to handle kingdom’s rough terrain

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Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.