Saudi real estate development company Rikaz has unveiled its $200 million City Fanar project, a water front 'Future City' destination, built around a 300,000 square meter manmade lagoon in Al-Khobar, Saudi Arabia.
Located on the Al-Khobar-Dammam Corniche, the 3.3 million square meter City Fanar will provide a mixed use environment, offering residential, commercial and leisure facilities, including an unmatched blend of entertainment, dining, shopping, marina and hotels.
City Fanar will be strategically placed as the connecting point between Al-Khobar and Dammam, in Saudi Arabia's Eastern Province. It will have easy access to Dammam, Al-Khobar, Al-Jubail, the King Fahd International Airport, Dammam Port, and the Dammam Re-export Free Zone, making it a prime location for real estate investment.
Also included in the master plan is the Eastern Province's first and longest pedestrian walkway that will connect a 20 square meter piazza to the city's 115,000 square meter main mall – one of the largest in the Eastern province. The walkway will also act as a main artery, facilitating movement throughout the city.
Rikaz is a subsidiary of the HAK Group. Established in 1997, in the wake of the rising demand in real estate development, Rikaz has focused its core activities in the purchase, development, leasing, management, construction and acquisition of, and investment in, real estate assets. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
