KEO wins Saudi mixed-use project contract

expat network

KEO wins Saudi mixed-use project contract

Saudi Real Estate Company (Sreco) has awarded a 10-month contract to KEO International Consultant to design and construct a mixed-use hotel complex in Al-Aqiq district in capital Riyadh, Saudi Arabia

The SR26 million ($7 million) deal allows KEO nine months for design and 30 months from the start of construction to manage and supervise the project, said Sreco in a statement to the Saudi stock exchange.

The agreement has no related parties and will have no effect on the company’s short-term finances, it stated.

As per the deal, KEO will be responsible for construction, management and supervision of the mixed-use Al Akaria project located adjacent to northen ring road at Al Aqeeq.

Earlier, the real estate company inked a five-month contract worth SR6.45 million ($1.7 million) with Al Assasat Al Watania for constructing a mixed-use building in Riyadh, it added.

KEO International, which has locations across the Arab Gulf region, provides consulting solutions for the construction industry.

Source: Trade Arabia

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.