$1.86 Billion Project Konoz to Open in Riyadh

Saudi-based Abdullah Al Othaim Investment Company has unveiled Konoz, a SR 7 billion ($1.86 billion) development in capital Riyadh featuring an entertainment city, a luxury hotel and premium residential offering in addition to commercial, F&B and retail outlets.

Konoz, which means 'treasures', will have a visual and architectural representation of gemstones in its various zones. 

Spread over a 50,000 sq m area, the project will boast cutting-edge commercial offices, retail and F&B outlets in addition to a 20,000-sq-m entertainment city.

The destination will have a 15,000 sq m of green areas, parking for 5,500 vehicles, a 120,000 sq m commercial centre, a 250-key world-class luxury hotel and 120 serviced residential apartments as well as 700-unit residential apartment complex .

Konoz was designed by leading global architectural firm Benoy, which has over 75 years of experience in designing multi-use projects and implementing the latest construction technologies, said the statement from the company.