Jeddah Gate showcased at housing expo
Jeddah, March 3, 2008
Emaar Middle East, the developer of the SR6 billion ($1.6 billion) mixed-use master-planned community Jeddah Gate, is showcasing the finer aspects of the project at the Jeddah International Real Estate & Housing Exhibition.
Jeddah Gate spans over half a million sq mt in Jeddah’s new downtown, and is regarded as a prime driver of the future growth of the area by creating a high-growth environment for homes, offices, retail, hospitality and leisure. Launched recently, Jeddah Gate has earned overwhelming investor interest, said an official spokesman.
“Jeddah International Real Estate and Housing Exhibition is one of the prime property expos that highlights the emerging trends in the sector. As a meeting place of potential investors, the event serves as a perfect platform for us to showcase Jeddah Gate, particularly the first phase including the Abraj Al Hilal towers, which was launched to strong investor response,” said CEO of Emaar Middle East Alaa Abdullah Saed.
Jeddah Gate, located in the heart of the city, is positioned on two sites; the first is spread over 413,000 sq m and is located along King Abdullah Street; and the second is spread over 140,000 sq m along Abdullah Al Suleiman Street.
The project will comprise 6,000 residential units, 230,000 sq m of commercial space and 75,000 sq m of gross leaseable area for retailers.
Jeddah Gate will feature amenities such as walkways, parks, swimming pools, fitness centres, children’s play areas, day care centres and recreational areas. A wide boulevard housing high-end retail outlets and restaurants is also included in the development plan. Residents can look forward to advanced security systems, and 24-hour maintenance support.
Emaar has a significant presence in 36 markets already and has diversified into education, healthcare, hospitality & leisure, malls and financial services. In Saudi Arabia, Emaar, The Economic City – a Tadawul-listed company - is developing the largest private sector project in the region, King Abdullah Economic City. – TradeArabia News Service