RIYADH: Alandalus Property Co. completed 70 percent of the Al Jawhara Al Kubra project in Jeddah, according to a bourse statement.
The company completed 100 percent of the structure and concrete works, 80 percent of facades, 70 percent of electromechanical works, and 65 percent of interior finishings, it said in a statement to the Saudi stock exchange.
The project is expected to complete in the second quarter of 2022, as per the latest report received from the developer partner. It will be operational in the third quarter of 2022, Alandalus said.
There is a change in the cost by SR22.34 million ($5.95 million), making the total cost including the land value SR895.34 million, the company said.
This is mainly due to an increase in the built-up area, the implementation of additional works in the entertainment area, and some other works on the site, according to Alandalus.
The project is named “The Village,” and the trade name for the owner company Al Jawhara Al Kubra Co. will not be changed.
