Abdullah Al-Othaim Investment launches the Konoz Box of Treasures project, with architecture inspired by gemstones.
The Saudi capital is set to grow once more, with Saudi Arabia’s Abdullah Al-Othaim Investment Company revealing plans for a $1.9 billion (SAR seven billion) entertainment complex in Riyadh called the Konoz Box of Treasures. The name “Konoz” translates to “box of treasures,” with a range of precious gemstones serving as a source of inspiration for the development’s visual and architectural elements across its various zones.
The Konoz Box of Treasures development comprises of a 20,000 sqm entertainment city and 50,000 sqm of modern commercial office spaces. The entertainment city is designed to enhance the city’s tourism and leisure offerings, while the office spaces will provide cutting-edge facilities to support Riyadh’s business community. The development will also feature retail and F&B outlets, a 250-room hotel, 120 serviced apartments and a residential complex spanning over 135,000 square meters, comprising of 700 apartments.
According to Meshaal Bin Omairh, the Group CEO of Abdullah Al-Othaim Investment Company, the launch of the Konoz Box of Treasures project aligns with the company’s vision of developing innovative projects in strategic locations within Riyadh. The project is designed by Benoy Company and aims to improve the quality of life in the city while generating employment opportunities. The project also aligns with the ‘Riyadh Strategy’, which aims to transform the city into a thriving hub for investment, innovation, and tourism.
Plans are also in place to grow Riyadh’s size and double its population as part of longer-term goals to make it among the world’s top ten cities. Last week, the state-owned National Housing Company announced the launch of Al Fursan, a SAR 24 billion development believed to be the largest residential suburb in Saudi Arabia.
Earlier this month, HRH Crown Prince Mohammad bin Salman bin Abdulaziz launched the New Murabba Development Company (NMDC) to develop New Murabba. The project aims to double the size and population of the capital and transform downtown Riyadh. The site will include a museum, a technology and design university, an immersive multi-purpose theatre and more than 80 cultural and entertainment venues.
The Konoz Box of Treasures project is another significant addition to the high-priority development projects currently underway in Riyadh and other cities in Saudi Arabia, which have turned the Kingdom into the ‘biggest construction site in the world’. In addition to these, there are also ongoing giga-tourism projects such as NEOM and The Red Sea development.
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