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Konoz (Box of Treasure) - Riyadh, Kingdom of Saudi Arabia


Project Name: Konoz (Box of Treasures)

Project Type: Mixed-use Development

Location: Riyadh, Saudi Arabia

Investment: $1.86 billion (SR7 billion)

Status: Inaugurated on February 23, 2023

Project Overview:

The Konoz project, inaugurated by Abdullah Al Othaim Investment Group, is a cutting-edge mixed-use development designed by Benoy. Spanning 50,000 square meters, it features commercial offices, retail, F&B outlets, a 20,000-square-meter entertainment city, a luxury hotel, and serviced apartments. The project also includes 15,000 square meters of green space, positioning it as a prominent tourist and leisure destination.

Key Components:

·        Commercial Spaces: The development includes commercial offices, a 120,000-square-meter commercial centre, and retail and F&B outlets.

·        Entertainment City: A substantial 20,000 square meters of entertainment city is incorporated, enhancing the project's appeal.

·        Hospitality: The project boasts a world-class luxury hotel with 250 keys and 120 serviced residential apartments.

·        Residential Offering: A 700-unit residential apartment complex is part of the development.

·        Green Spaces: With 15,000 square meters of green areas, Konoz focuses on providing a balanced and environmentally friendly environment.

·        Infrastructure: The project features parking for 5,500 vehicles, catering to visitors' needs.

Strategic Alignment:

Konoz aligns with Riyadh's comprehensive strategy to transform the city into a global hub for investment, innovation, and tourism. Abdullah bin Saleh Al Othaim, Group Chairman, emphasized the project's significance in indicating Riyadh's drive towards becoming a global hub.

Vision 2030 Impact:

The project mirrors the growth and development envisioned in Saudi Arabia's Vision 2030, aiming to transform the nation into a sustainable and diverse economy. Group CEO Meshaal Bin Omairh highlighted how Konoz embodies the ongoing progress in Riyadh and Saudi Arabia.

Conclusion:

The Konoz project is a testament to Abdullah Al Othaim Investment Group's expansion strategy, solidifying its position as a leader in large-scale development initiatives. With a focus on modernity, innovation, and strategic location, Konoz contributes to enhancing the quality of life in Riyadh and creating employment opportunities. The inauguration on February 23, 2023, marks a significant milestone in the ongoing growth and development of the capital city.
 

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