Al Khobar, Saudi Arabia; May 11, 2008: Emaar Middle East (EME), a subsidiary of Emaar Properties PJSC focused on project development in the Middle East region, will launch the first residential village within Al Khobar Lakes on May 14, 2008.
Al Nada Village, with an area of 250,000 sq m, is the first of nine residential villages within the first phase which spreads over a total area of 2.6 million sq m. Al Nada Village features 242 elegant three- to six-bedroom villas with residents having direct access to a 13,000 sq m lake.
Customers can choose from 16 villa styles designed with Arabic and Andalusian architectural elements at the sale to be held at Al Khobar Lakes Sales Centre. The villas are due for completion in 2010.
Eng. Alaa Abdullah Saed, Chief Executive Officer, Emaar Middle East, said: “Al Khobar Lakes is one of the largest gated communities in the Kingdom of Saudi Arabia and sets new standards in residential developments. The focus of the project is to create a distinctive location ambience through lakes and water-bodies, which have been carefully designed following extensive studies to create an environmentally conscious neighbourhood, while adding to the quality of living by offering private villas and community amenities.”
He added: “Al Nada Village, the first residential village in Al Khobar Lakes, will employ world-class standards in architectural design and construction. These homes have been tailored for Saudi families with private gardens, parks, and walk-ways. Emaar Middle East has paid close attention to details to ensure a different lifestyle experience.”
The first phase of Al Khobar Lakes has a development value of SR4.6 billion (US$1.2 billion) and is all set to redefine the residential property sector of the Eastern Province with its focus on creating a gated neighbourhood with integrated amenities. Features include eleven mosques including a Grand Mosque for Friday Prayers, two schools, healthcare facilities, a shopping centre, a community centre that includes a recreation club, swimming pools, nursery/kindergarten, convenience retail, public area, and food & beverage outlets. The retail center sprawls over an area of 110,000 sq m, and will have convenience stores and fashion outlets for residents and visitors.
Al Khobar Lakes is located in close proximity to Al Khobar City, Dhahran and Dammam, and can be accessed conveniently from two highways, Dhahran-Beqaiq Highway and Abu Hadria Street which connects to Bahrain, Al Khobar, Dammam and Riyadh. Al Khobar Lakes is only 43 km from King Fahd International Airport.
Potential buyers can visit Al Khobar Lakes Sales Centre; sales will start on Wednesday, May 14 from 9am. For more details, log on to www.emaar.com or call toll free 800 12 36227.
Emaar Middle East, a joint venture between UAE-based Emaar Properties and Saudi-based real estate company Al Oula Development, has already launched Jeddah Gate, a SR6 billion (US$1.6 billion) mixed-use project spread over half a million sq m, which is under construction. The project opened to overwhelming investor response with the sale of the Abraj Al Hilal towers.
