Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal announced the commencement of the construction of "Kingdom Riyadh Land" real estate project. "Riyadh mega project will bring promising returns to Kingdom Holding investors. Our Saudi real estate projects are solid anchors for Kingdom Holding's continuing profitability," he said. On Feb. 9, 2011, KHC announced that Omrania were awarded the design of the master plan design and infrastructure of "Kingdom Riyadh Land" that is 16 million sqm. The contract includes provisional sums for traffic and environmental studies. Hart Howerton was awarded the design of the master plan for 3.8 million sqm in Kingdom Oasis Land. The contract includes concept landscape architecture. Eng. Talal Almaiman, Executive Director for Development and Domestic Investments, said: "This strategic step is aimed at broadening the activities of the Real Estate Investment Company, Ltd. (REIC) to benefit from its marketing and operations' ability." REIC owns and operates "Kingdom City" residential compound in Riyadh. More than 400 families are currently on the wait list.
