KINGDOM Holding Company (KHC) said the construction of its mega real estate project in Riyadh, Saudi Arabia, has begun.

Covering an area of 16 million sq m, Kingdom Riyadh Land will bring promising returns to Kingdom Holding investors, said KHC chairman Prince Alwaleed bin Talal bin Abdulaziz Al Saud.

“Our Saudi real estate projects are solid anchors for Kingdom Holding’s continuing profitability,” he said.

The masterplan and design infrastructure contract for Kingdom Riyadh Land was awarded to Omrania last year. The scope of work covers provisional sums for traffic and environmental studies. It includes the coordination and approval of all masterplanning elements, engaging and managing the traffic impact study and environmental impact assessment sub-consultants and other studies required to complement and complete the masterplan in the role of the local masterplanner, including all liaison with local authorities. Additionally, Omrania will be carrying out the supervision of the infrastructure work on site at the pre-agreed rates contained in the contract.

Meanwhile, Hart Howerton (HH) has been awarded the contract to design the masterplan for the 3.8 million-sq-m in Kingdom Oasis Land, which will be located within Kingdom Riyadh Land. The contract includes concept landscape architecture and coloured renderings. As part of its scope of work, HH will produce preliminary concept architecture studies for the hotel, gentleman’s retreat, women’s spa and branded villas.