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King Abdullah Economic City
Emaar the Economic City, a consortium headed by Emaar and a number of high profile investors from Saudi Arabia, has made rapid progress on ground and site work for its flagship development in Saudi Arabia, the King Abdullah Economic City (KAEC).
The SR100 billion (US$26.6 billion) KAEC is the largest private sector initiative in the Kingdom. SAGIA (Saudi Arabian General Investment Authority), the apex body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.
An overwhelming 10 million Saudis, approximately half the country’s national population, subscribed to the ten-day initial public offering of EEC in August 2006, setting a new record in the Kingdom’s capital market history.
KAEC is a mega multi-stage development which will closely integrate itself into the Kingdom’s on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to 500,000 employment opportunities in the various industries and service-oriented companies that will open in the City.
The City will be a mixed-use development located north of the commercial hub of Jeddah to ensure easy access from the Holy Cities of Makkah and Madina. A massive 55 million square meters of greenfield land with a 35 km shoreline close to the industrial city of Rabegh has been earmarked for the master development. The City will have six distinct components – a modern world-class Seaport, Industrial District, Financial Island, Education Zone, Resorts and The Residential Area.
Groundwork on KAEC is going full steam ahead. Work is underway on the project’s first boulevard – a 15 km long stretch that features over 3,000 palm trees. Excavation work for the first city canal to run through the Red Sea Village has started. Geotechnical investigations are being conducted for dwelling units and designs for one of the main entry gates, the first Corniche Park and marina have been completed. There are over 500 workers on-site and the number will exceed 1,000 soon.
During the first three years, construction will be focused on four major areas: the Port, Industrial areas, the Resort District comprising two major beachfront hotels, the first golf course and associated villas, and several apartments and office buildings in the Town Center.
Jeddah Gate
A new heartbeat in the heart of Jeddah.
Jeddah Gate features residential units, commercial towers and a range of cultural, retail and leisure outlets, Jeddah Gate brings forward visionary thinking of a modern and progressive society that embraces change. In Jeddah Gate you will discover the pulsating heartbeat of a new downtown. This vibrant city will encapsulate the modern and progressive energy of any of today’s major city centers. Its urban sophistication is sure to inspire.
Located in the heart of the city, the mixed-use master-planned community spanning over half a million sq m in Jeddah’s new downtown area, will comprise 6,000 residential units, 230,000 sq m of commercial space and 75,000 sq m of gross leaseable area for retailers. The project’s overall architectural philosophy will conform to Arabesque traditions while blending most-modern facilities to ensure a unique, relaxed lifestyle.
Jeddah Gate forms a key component of the Jeddah’s new downtown area, which will ultimately spread over 12 million sq m. As one of Saudi Arabia’s top development projects to create a Central Business District in Jeddah, Emaar’s project is built to become the new centre of the city and drive inward investments to the Kingdom.
With Jeddah Gate, Emaar is bringing to Saudi Arabia its core competency of developing master-planned communities that deliver a new way of living.
Abraj Al Hilal – Launched in Jeddah, Saudi Arabia
Three residential towers
Two, three & four-bedroom apartments
Sizes ranging from 124 sq m to 600 sq m
Amenities include: schools, mosques, cultural centres, swimming pools, fitness centres, children’s play areas, day care centres and recreational areas
Contact Details:
Saudi Call Centre 800-12-Emaar (800-12-36227)
UAE Call Centre 800-Emaar (800-36227) or +971 4 366 1688
Jeddah Hills
Jeddah Hills is the flagship project of Emaar Middle East, the joint venture between Emaar and Saudi-based real estate company Al Oula Development. Emaar’s second foray into Saudi Arabia, the SR42 billion (US$11.2 billion) Jeddah Hills community project comprises over 20,000 residential units as a combo of townhouses and single homes alongside commercial and retail facilities. The spacious homes – of 500 to 1,500 sq. m – will go on sale in the first quarter of 2007.
Jeddah Hills extends over 5,314 acres of land with a built-up area of 3,768 acres. Set between 70 and 90 meters on a hill top, Jeddah Hills offers spectacular views over the surrounding landscape towards the Red Sea, North Jeddah and the Mountains in the East.
The project features 24 residential villages, each of area 465,000 sq. m, offering a board spectrum of community amenities arranged in a hub-and-spoke model. Large parks, recreation areas, schools, mosques, healthcare services and village squares will add to the allure of a self-contained community living environment.
