Jeddah, Saudi Arabia; August 10, 2008: Emaar Middle East, a property development associate of Emaar Properties PJSC focused on projects in the Middle East region, has announced on-schedule progress in the infrastructure work of Jeddah Gate, the company’s SR6 billion (US$1.6 billion) flagship development.
Emaar Middle East had awarded contracts to a number of leading Saudi Arabian companies to develop the Jeddah Gate infrastructure and undertake the construction of various components. Work is currently progressing on schedule, and the first components of the project taking shape.
Eng. Alaa Abdullah Saed, Chief Executive Officer of Emaar Middle East, said: “Jeddah Gate is a premium integrated community and is billed to contribute to the economic growth of Jeddah. The launch of homes within Jeddah Gate has received overwhelming customer and investor response highlighting the trust of the Saudi public in the project.”
He added: “Emaar Middle East is committed to developing the project on-schedule by adhering to international best practices and the highest quality standards. Work on the electricity infrastructure, side-walks and walkways are progressing at an accelerated pace alongside the laying out of the first community within Jeddah Gate.”
The mixed-use neighbourhood will have commercial, residential, cultural, educational and entertainment amenities – together creating a vibrant lifestyle destination. These will include schools, offices, mosques, hotel, residential units, walkways, parks, swimming pools, fitness centres, children’s play areas, day care centres and recreational areas. It will also feature a wide boulevard with high-end retail outlets and restaurants.
Jeddah Gate is located in the heart of the city and is positioned on two sites. The first is spread over 413,000 sq m and is located along King Abdullah Road, and the second is spread over 140,000 sq m along Abdullah Al Suleiman Street. Currently, work is progressing on the site along King Abdullah Road.
Interested potential home buyers and investors can visit the Jeddah Gate sales centre on King Abdullah Road near the old airport area to find out more about the project.
Saudi Arabia plays a key role in Emaar’s growth strategy of geographic expansion and business segmentation in line with its Vision 2010 to become one of the most valuable companies in the world. Emaar Middle East is also developing Al Khobar Lakes, a master-planned waterfront community in the Eastern Province, the first phase of which was launched to sell-out customer and investor response.
Emaar Middle East has recently signed an agreement with Saudi Telecom Company (STC) for implementing the communication infrastructure in all its projects in the Kingdom. STC will meet all networking, information and communication technology (ICT) needs of the company’s projects including Jeddah Gate and Al Khobar Lakes.
