Limitless, a global master development arm of Dubai World, will create a SR45 billion (US$12 billion) urban community in the Kingdom of Saudi Arabia, the company announced today (Thursday).
Al Wasl, on show at Cityscape Dubai from 16 October, is the first of several projects planned by Limitless in KSA. It will be developed on a 1411 hectare (14.1 million square metre) site north of the Saudi capital, Riyadh. Iconic, integrated, and designed to reflect and complement the natural environment of nearby Wadi Hanifa, Al Wasl will comprise a number of inter-connected districts, with more than 55,000 homes, as well as offices, hotels, mosques, health and educational facilities, shopping malls and sports amenities.
There will also be extensive open spaces: 300 hectares – almost a quarter of the entire development – will be ‘green’, with landscaped parks and boulevards to connect each district within Al Wasl.
Saeed Ahmed Saeed, Chief Executive Officer of Limitless, said: “Riyadh’s population is growing by 150,000 – or three per cent – every year. Some 55,000 new homes are required annually to accommodate the capital’s rapidly-increasing numbers. Around five million people live in Riyadh today: in 20 years the figure will rise to eight million if the population continues to grow at current rates.
“Al Wasl is tailor-made to preserve traditional Saudi Arabian culture while creating a modern, self-sustaining community for more than 200,000 people. The project draws on our key strengths of master planning large-scale urban projects and creating sizeable, mixed-use communities. And it’s the first of many Limitless projects in the pipeline for KSA.”
Al Wasl is the first of several projects in the pipeline for Limitless in Saudi Arabia, where 50,000 new homes are needed each year. The project plan includes:
• 55,000 homes – a mixture of villas, townhouses and apartments
• 300 hectares of green, open, communal space
• 55 mosques, including seven grand mosques
• eight shopping complexes, including world class malls
• several five star hotels, with conference facilities
• top-flight office facilities
• state of the art sports amenities
• schools, a university and a hospital
• an environmentally-friendly internal transit system
– End –
Media enquiries: Rebecca Rees on +971 4 375 9733 or Rebecca.rees@limitless.ae