Alandalus Property Co. completed 98 percent of Al Jawhara Al Kubra project in Jeddah, according to a bourse statement.
The company completed 100 percent of the concrete and structure work, 81 percent of the facades, 93 percent of the electromechanical works, and 81 percent of the interior finishings, according to a bourse filing.
The project is expected to complete in the fourth quarter of 2022, as per the latest report received from the developer, and is expected to start operating in the first quarter of 2023.
The project took part in the Jeddah Season 2022 by using the Boulevard as a site for organizing events, which resulted in some work to ensure the safety of visitors being suspended, it said.
The total project cost including the land amounted to SR895.34 million ($238.1 million), according to previous reports.
The project is named “The Village,” and the trade name for the owner company Al Jawhara Al Kubra Co. will not be changed.