KAEC completes phase I infrastructure work
Riyadh, May 28, 2013
King Abdullah Economic City (KAEC) has announced that all the basic and secondary infrastructure works of the first phase of its Al-Talah Gardens District have been completed and work has now begun on the project’s second phase.
In addition, KAEC will soon be launching a third phase of the district that includes residential villas and land plots at competitive prices, said a senior official.
Commenting on the progress, Fahd Al-Rasheed, the managing director and CEO of KAEC, said: "We are moving at an accelerated pace in the development of Al-Talah Gardens neighborhood following the great success of phase one and two, in which all units were sold out in record time."
"We have fulfilled our commitment to complete the basic and secondary infrastructure works for the first phase, marking another step forward in the development and construction at KAEC," he stated.
According to him, Al-Talah Gardens comes as a prototype solution to meet the urgent housing needs of the Economic City’s neighbouring communities, such as Petro Rabigh, KAUST.
"Additional strong demand comes from investors within KAEC, in addition to families from Jeddah and Makkah," stated Al-Rasheed.
Ayman Mansi, the director of residential development at KAEC, said, as an additional benefit for Al-Talah Gardens residents, KAEC will be offering a unique selection of architectural designs for those who are planning to build homes within the coming two years.
Located at the heart of KAEC, Al-Talah Gardens District spreads over 500,000 sq m and is bordered by two main roads.
In addition, the district enjoys world class infrastructure and leading edge amenities, which include a high capacity storm drainage network, sewage systems, water and power networks, telecommunications and Internet connections, paved roads, street lighting and landscaping as well as safety and security systems.
Once completed, a one kilometer pedestrian walkway will allow families to enjoy walking, playing and relaxing in the outdoors surrounded by trees, playground facilities and retail stores, explained Mansi.
Al-Rasheed said the KAEC was steadily moving forward with its strategic plans, which include the launch of the operational test phase of the seaport during the fourth quarter of this year with a capacity to hold 1.3 million containers annually, as well as attracting local and international businesses and investments to the City’s Industrial Valley.
KAEC, he stated, is offering a wide range of housing solutions that are appropriately priced for different income levels.
"The Bay La Sun mixed-use community offers a modern and sophisticated lifestyle that includes the Marina Towers and Beach Towers, the Bay La Sun Hotel and Marina, the first hotel to open in the city, the Oceana luxury resort, and a hitech business park," he added.
The Al-Talah Gardens neighbourhood and Al Murooj District are full-service residential communities offering land plots of various sizes at competitive prices.
Al-Rasheed said all of the Coastal Community neighborhoods are supported by different services and facilities such as The World Academy School which is already open with a total capacity of 2,250 students, the first medical centerfor primary care and emergency operated by Dr. Soliman Fakeeh Hospital Company.
"Also, retail stores have been fully leased and a number of restaurants, cafes, sales outlets and pharmacies are already open," he added.-TradeArabia News Service
More Construction & Real Estate Stories
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts
- Emaar offers 330 apartments in MBR City
- Dubai Design District sees big demand
- HUGE DEAL: Arabtec inks $40bn Egypt housing project
- Galfar ex-CEO gets 15 years' jail over bribes
- $32m BFH car park work underway
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract