‘The Point’ project in Abha KSA breaks ground
Recently Prince Turki bin Talal Al Saud, Prince of the Asir region in the Kingdom of Saudi Arabia and the Chairman of the Asir Development Authority laid the foundation stone of ‘The Point’ project. Located on King Fahd Road between Abha and Khamis Mushait, The Pointe is being developed as an integrated destination for shopping, entertainment and hospitality.
The project is part of the Red Sea Markets Company – under SEDCO Holding Group – that specialises in the management and development of shopping centres and commercial businesses. The ground-breaking ceremony of The Point was attended by the SEDCO Holding Group’s Chairman Sheikh Saleh Salem bin Mahfouz, several businessmen, investors and leaders of the region.
During the inauguration Prince Turki bin Talal emphasised that the investment department of the Asir Development Authority is working to bring new investments and projects with competitive values to promote the region as a leading tourism destination for shopping, entertainment and recreation. He highlighted how such projects create massive job opportunities in the region. For instance, The Point project is expected to create over 2,500 job opportunities for people in the region. Prince Turki bin Talal also noted that the Investment Committee of the Asir Development Authority and the Business Challenges Committee of the Governorates are collaboratively working to ensure rapid completion of The Point project.
The Point project targets several activities compatible with the urban identity and architectural designs of the Asir region, in line with its economic and tourism requirements. The project spans a land area of 750,000 sqm, including building areas of 150,000 sqm, leasing area of 50,000 sqm, green areas 50,000 sqm, youth centre 1,000 sqm, fountains and water bodies 1,000 sqm, health centre of 3,000 sqm, along with a 6,000-sqm hypermarket, 10 cinemas, 150 stores, 40+ restaurants and cafés, 1,500 car parks, 100 hotel apartments, and a hotel with 150 rooms managed by Hilton Residence & Canopy by Hilton brands.
The Point is one of the projects by the Investment Committee of the Aseer Investment Forum Project showcasing the government’s commitment to develop projects to support businesses in the region including SMEs and entrepreneurs. Such projects will also spur investment opportunities in the Asir region.
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