Kun Won in US $15.7mn Oran design job

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Snasco deputy chairman Talal Sorayai with Kun Won business head Song Dae Sup.

Saudi Arabia-based real estate developer Snasco has contracted South Korea-based Kun Won in a US $15.7 million (SAR58.8 million) deal to design the master plan of its waterfront project in Oran, Algeria.

Kun Won will provide engineering services as well as supervision and development consultation for the project. The design firm is in partnership with Algerian government body Oran Family Housing Development Establishment.

The project will include more than 2000 residential and commercial units and covers an area of around 150,000m2. It is located near Oran's Conference Palace.

Snasco deputy chairman Talal Sorayai said: "We have received several proposals from internationally renowned engineering houses but we have selected Kun Won because of their vast experience and thorough knowledge of the Algerian market.

"Nonetheless, they offered a creative proposal, supported with a solid plan that meets the requirements of the project, where the majority of the units in this project will overlook the sea," he said.

Snasco has a number of projects under construction in the UAE including a low-rise residential and commercial project in Sharjah called Al Basateen, and a mixed-use industrial project called Sharjah Investment Centre.

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