RIYADH: Saudi Arabia’s King Salman Energy Park, known as SPARK, has signed a contract with a subsidiary of Abdullah M. Bin Saedan & Sons Real Estate Group to develop a $150 million residential complex and workers’ village. The residential complex will be developed in two phases, with the first phase expected to be completed in 2025 and is set to span an area of 30,000 sq. m, according to a press release. The workers’ village will be built in three phases across an area of 110,000 sq. m, and will have over 8,000 beds, with its first phase also slated for completion in 2025. “We are delighted to partner with Bin Saedan to build a residential complex and workers’ village at SPARK. This partnership reinforces our commitment to create an environment where residents can work, play and live. It will allow tenants to safely lodge their employees in amenities that offer the highest quality of services, elevating the investor experience at SPARK,” said SPARK President and CEO Saif Al Qahtani. Mohammed Abdullah Bin Saedan, board member of Bin Saedan, said that its partnership with SPARK will help create “a dynamic community where residents can live a healthy and happy lifestyle.” He added: “Our experience in the Kingdom spans nearly a century with several flagship innovative projects. This partnership marks a milestone for our company as we aim to accelerate our expansion in the Eastern Province. We are committed to making this project the first of its kind in the Kingdom and the region.” SPARK is a fully integrated industrial ecosystem located in the eastern province of Saudi Arabia is being developed to be the leading gateway for the region’s energy sector. Encouraging clean and sustainable energy production while diversifying revenues, in line with the Kingdom’s Vision 2030, SPARK is also the first and only industrial city in the world to receive a silver Leadership in Energy and Environmental Design certification.