Aseer awards main contract for $266m ‘The Point’
01 December 2024
Aseer Development Authority has awarded the main contract for ‘The Point’, a multi-use project being set up in Abha city in collaboration with Saudi Tourism Development Fund (TDF), Red Sea Markets for Real Estate Investment Company and Banque Saudi Fransi at an investment of over SR1 billion ($266 million).
Spanning a 75,000-sq-m area, the project will feature a mix of retail, entertainment, hospitality, and tourism elements, said senior officials at the signing ceremony held on the sidelines of the Cityscape Global 2024.
The Governor of Aseer Region and Chairman of Aseer Development Authority Prince Turki bin Talal bin Abdulaziz was present at the ceremony.
The Point connects the city of Abha and Khamis Mushayit Governorate, being located just 7 km from Abha city centre and 14 minutes from Abha International Airport. It is expected to open in Q4 of 2027.
The project boasts a variety of shops, restaurants, local and international cafes as well as a cinema. In addition, the multi-use project will house luxury Hilton hotel apartments and a Canopy Hotel by Hilton. It also features green spaces as well as a health and youth centre, the developer stated.
- Mega districts unveiled for $63bn Diriyah project
- GlassPoint to build giant industrial solar thermal project
- Neom awards The Line’s design, engineering deals
- RSG likely to spend another $27bn by 2030: Report
- Acwa, Taqa groups secure 7.2GW power project deals
- Global firms to set up factories at Spark
- Tilal unveils $1.6bn luxury development in Al Khobar
- 16 developers in race for 3,000MW solar projects
- NHC to build 10,000 new residential units in Riyadh
- TDF to develop $372m resort in Eastern Region
- Aseer awards main contract for $266m ‘The Point’
