Turner & Townsend named cost consultant for key Saudi PIF projects
RIYADH, 17 hours, 38 minutes ago
Turner & Townsend, a global professional services company, said it has been appointed as the cost consultant for the Smart Accommodation for Residential Complexes Company (sarcc), a new property developer and operator of employee housing across the Kingdom of Saudi Arabia (KSA).
A subsidiary of Saudi sovereign wealth fund PIF, the sarcc aims to meet the growing demand for accommodation solutions for both public and private projects across the country.
Among its key initiatives is the development of a modern residential complex located in the King Abdullah District of Central Riyadh, to meet the need for high-quality, furnished housing.
This development will deliver hundreds of apartments of different sizes, as well as retail spaces and modern amenities, providing convenient and comfortable living options for Riyadh’s expanding workforce.
Its prime location will benefit residents, with community living spaces and green areas that will positively transform living accommodation in Riyadh.
The project will integrate high-density urban living with aesthetic appeal, providing a variety of residential options that enhance the visual landscape and meet the increasing housing demand in Central Riyadh.
Dean Furey, Real Estate Lead, KSA, at Turner & Townsend said: "Supporting sarcc in the development of new high-quality residential units will enhance accommodation options in the capital and enable more long-term investment in Saudi Arabia by providing better amenities and services for workers."
Turner & Townsend is majority-owned by CBRE Group, a major commercial real estate services and investment firm.
With a 22,000-strong global workforce in 60 countries, it works with clients across real estate, infrastructure, energy and natural resources.
"We recognise the importance of this objective to meet the demands of the expanding workforce," stated Furey.
"sarcc will be at the forefront of modern construction - exploring the use of modular methods and design to bring scalable, adaptable, and durable accommodation to the Riyadh market and we’re looking forward to transforming Riyadh’s residential market and its urban landscape," he added.-TradeArabia News Service
