This 1.6 billion dollar sprawling development will stretch for 7 kilometers along the Khobar beach-front. Encompasing 7-million square meters, the development will include luxurious residential towers, high-class retail, tourism and entertainment facilities. At the center of this deluxe project is the Middle East's first "Floating Mall" bringing a taste of Venice to the heart of the Arab World. Phase 1, which includes land reclemation and initial landscaping has been completed at an estimated cost of 4 billion riyals. Phase 2, which will soon initiate, will encompass 12 mega-investment projects covering trading, tourism, entertainment and residential development.

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The Grand Hotel, one of Shobily Port's mega projects.

http://www.gulfconstructiononline.com/source/XXV/05/images/Gw4.jpg
The Shobily Mall (development cost estimated at 1 billion riyals)

I've seen this, it's a nice development. Good to hear it's in phase 2 now, about to kick in.

I really like the style of the buildings in the renderings and 4 billions riyals for the infrastructure and reclamation!! Thats alot!

I bet most of the money will be spent with gold interior design :D:D:D

This is a massive project, among many that are sprouting up in the Khobar and Azizia regions.

why are all those projects? are they resorts for us troops returning from iraq or Saudi troops guarding the oil? or what? i don't recall hearing about an economical boom in the Ihsa region lol

On the contrary there's a massive boom in the Dammam region. The fashion for joint stock property developments has allowed the many local small investors to invest in their town.

why are all those projects? are they resorts for us troops returning from iraq or Saudi troops guarding the oil? or what? i don't recall hearing about an economical boom in the Ihsa region lol
Khobar is not in Ihsa!