Saudi Arabia awards $266.6 million Construction Contract for “The Point” Project
Aseer Development Authority in collaboration with the Tourism Development Fund, Red Sea Markets for Real Estate Investment Company, and Banque Saudi Fransi awards the main contract for the multi-use project “The Point” in Abha city.
The value of the contract estimated at over SAR1 billion.
The Point, expected to open in the fourth quarter of 2027, will be a retail, entertainment, hospitality, and tourism destination in Aseer.
At an area of 75,000 square meters, The Point is situated on the road connecting the city of Abha and the Khamis Mushait Governorate, just 7 kilometers from Abha city center and 14 minutes from Abha International Airport. The project includes a variety of shops, restaurants, local and international cafes, a cinema, in addition to a number of luxury Hilton hotel apartments and a Canopy Hotel by Hilton.
The project also features green spaces as well as a health and youth center.
The signing ceremony was held on the sidelines of the Cityscape Global 2024.
