BUSINESS

Al-Murjan Group Holding inks pact with OCC for Delta Complex in Jeddah

Taufiq Bahamdain: Latest milestone in our diverse investments keeps pace with Saudi Vision 2030

November 21, 2022

Al Murjan Group Holding announced the signing of an agreement with O.C.C. Weavers Ltd, a property management company, to complete the finishing electromechanical works and external facades of the buildings of the Delta Complex. The amount of the deal is exceed SR 600 million.

This is the last phase of the project with a total cost of SR1.2 billion. Under the agreement, the period of completion of the project is the end of 2024.

The ceremony of signing the agreement comes within the ambitious plans drawn up by the group that are added to the group’s various other investments.

Eng. Taufiq Bahamdain, CEO of the group, said that the Delta multiplex complex would be a landmark in the city of Jeddah, in a prime location at the intersection of King Abdulaziz Road and Al-Salam Road, southwest of the Globe Roundabout.

“The project’s land area is 27,000 square meters, while the built-up area is 124,000 square meters. The complex includes four components. They are the Delta Marriott Hotel, which consists of 181 rooms and 25 suites; and the Marriott Hotel Apartments Building, which consists of eight floors and includes 100 hotel apartments. Al-Murjan Holding Group has concluded agreements with Marriott International pertaining to these two projects. The complex also includes an administrative building and an events hall spreading over an area of 3,000 square meters, with a capacity to accommodate 1,500 people.

He pointed out that the group opened the Four Points by Sheraton Hotel, overlooking the southern Obhur Corniche. “The success that it has achieved after starting operation raises the degree of our ambition to continue in the hotel sector, for which the Kingdom attaches great importance by facilitating the inflow of tourists. We are exploring the prospect of moving forward with the establishment of a number of projects in the hotel sector in Jeddah, and in other cities as well,” he said while noting that the group also owns the Blue Coral Hotel that consists of 300 rooms and suites in Makkah, serving Hajj and Umrah pilgrims.

With regard to the group’s investments in the health sector, Eng. Bahamdain said: “Mediclinic Al Murjan Hospital is the result of the fruitful partnership between Al Murjan and Mediclinic Middle East. It is an internationally accredited private hospital with 200 beds, which will be opened in Jeddah during the first half of 2023,” he said.

“We want further expansion in the medical field towards the mental health sector, as we seek to establish a mental health center with its medical and cognitive-behavioral sections. We expect it to be completed in 2023.”

Bahamdain also disclosed plans to spread the group’s wings into various parts of the Kingdom. “As part of our strategy, we look forward to opening Mediclinic branches around the Kingdom, starting from Riyadh,” he said while noting that Al Murjan Group includes Balsam Medical Company, which provides hospital management solutions and the electronic medical file titled “Oasis Plus” to 47 hospitals in the public and private sectors in various regions of the Kingdom as well as in some other Gulf countries at present.

With regard to the group’s projects in the capital city of Riyadh, the group CEO said: “At present, we have two commercial projects in Riyadh, one of which is located on Al-Takhassusi Street, and the other on King Abdullah Road. The volume of investments in these projects amounts to about SR200 million. These are an extension of previous projects in the city of Riyadh, such as the Al Murjanah Residential Complex in the Hittin neighborhood, which consists of 51 units.”

Bahamdain also noted that Al Murjan Group is proud of being one of the fastest growing companies, with its projects spreading in various real estate, industrial, commercial, health, technical and financial sectors, thanks to its confidence in the future of Saudi investments, which is keeping pace with the Kingdom’s Vision 2030.


November 21, 2022
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