“Amaad” Business Park Project Reaches Financial Close

Khobar, 10th of October - AlKifah signed an agreement with the Saudi Investment Bank to provide project finance for the construction of “Amaad” Business Park project.

“Amaad” is the name of the modern investment business park located on the campus of King Fahd University of Petroleum and Minerals (KFUPM) to become the new destination for investors and business owners in the region. The project is being constructed by AlKifah Contracting Company with a total value of more than one and a half billion Saudi Riyals.

Located in the heart of Dhahran, the project which will be the hub for new business opportunities consists of 13 residential and commercial towers and is characterized by its strategic location between Saudi Aramco and King Fahd University for Petroleum and Minerals to provide jobs in the field of engineering, technology, and energy.

Eng. Osama Hassan AlAfaleq, Chairman of the Board at AlKifah Contracting Company, announced that AlKifah is proud to have been selected to lead the construction of this project which will be a landmark in the region, helping the kingdom achieve its objective under vision 2030.

Mr. Faisal Al Omran, Chief Executive Officer of the Saudi Investment Bank added: “We value our strategic partnership with AlKifah and we are proud of the role they play as a national company.”

AlKifah Contracting Company is one of the largest national companies specialized in the field of contracting the Kingdom. It has constructed mega projects such as the Jazan Industrial City.

This comes as a continuation of its vision to become a leading company in this field and to provide exceptional services to its clients.

AlKifah Holding

AlKifah Holding is a leading investment company operating in Saudi Arabia since 1970 to provide a broad array of investments by embracing opportunities and creating synergies. It owns and manages more than 20 subsidiaries in seven divisions, focused primarily on contracting, construction solutions, property development, business solutions, financing, paper production, education and renewable energy.

With corporate headquarters in the eastern province, AlKifah’s operations and running projects maintain an active presence across the kingdom and play a prime role in fostering growth and progress, making it a key player in the Saudi market.