With a project value of $6,000 million, the SH – The Avenues Riyadh – Saudi Arabia project was the largest Hotels project in the Middle East and Africa, on which construction started in Q1 2022. The SH – The Avenues Riyadh – Saudi Arabia project is located in Saudi Arabia and initially announced in Q1 2014 with an estimated completion in Q2 2025. The AARED/HPD – Gardenia City – Egypt project was the second-largest project with a project value of $1,635 million, on which construction work started in Q1 2022. The AARED/HPD – Gardenia City – Egypt project is located in Egypt and initially announced in Q1 2021 with an estimated completion in Q4 2027.
The ASAAS – Al Hafa Waterfront Mixed-Use Development – Oman project was the third-largest project, the AARED – Keeva Residential Development – Egypt was the fourth-largest project, and the MD – Baymount Mixed-Use Development – Suez was the fifth-largest project with a project value of $500 million, $273 million and $255 million respectively. The ASAAS – Al Hafa Waterfront Mixed-Use Development – Oman project located in Oman was announced in Q3 2017 with an estimated completion in Q4 2024, the AARED – Keeva Residential Development – Egypt project located in Egypt was announced in Q1 2020 with an estimated completion in Q4 2025 and the MD – Baymount Mixed-Use Development – Suez project located in Egypt was announced in Q1 2020 with an estimated completion in Q1 2025.
Among the five largest projects, the AARED/HPD – Gardenia City – Egypt project is the longest in terms of completion date, with construction expected to be completed in Q4 2027. On the other hand, the ASAAS – Al Hafa Waterfront Mixed-Use Development – Oman project is the shortest in terms of completion date, with construction expected to be completed in Q4 2024.
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