Prince Alwaleed said: "Our Saudi real estate projects are solid anchors for Kingdom Holding's profitability."

Talal Almaiman, executive director for development and domestic investments, said: "We are continuing with our solid and significant local projects aimed at increasing positive returns for Kingdom Holding Company."

Also, the contract includes provisional sums for traffic and environmental studies. As part of its service, Omrania's contract includes the coordination and approval of all master planning elements, engaging and managing the traffic impact study and environmental impact assessment sub-consultants and other studies required to complement and complete the master plan in the role of the local master planner, including all liaison with local authorities. In addition Omrania will carry out the supervision of the infrastructure work on site at the pre-agreed rates contained in the award memo.

Moreover, Hart Howerton (HH) has been awarded the design of the master plan for 3.8 million sqm in Kingdom Oasis Land. The contract includes concept landscape architecture and colored renderings. As part of its scope of work, HH will produce preliminary concept architecture studies for the hotel, Gentleman's Retreat, Women's Spa, and branded villas, of which one scheme will be further developed into the concept refinement stage to address the concept details. The preliminary master plan was submitted to Riyadh Municipality and its comments have been addressed by HH.