The East West Pipeline residential compounds project achieved financial close in September 2021 with financing of over USD 500 MN. The project includes development of residential compounds including life-support and recreational facilities at six sites along the 1,200 km long East-West pipeline.
These compounds will house over 1,700 Saudi Aramco employees and are being developed under the Build-Own-Operate-Transfer (BOOT) framework by a consortium of Asyad Holding, Lamar Holding and Wisayah Investment Company. The lease agreements for the project were signed in May 2021 between Aramco and the project company, which has a concession period of 20 years post construction of the six compounds.