Tuesday 19 March 2024
 
»
 
»
7-STOREY TOWER AT JEDDAH STATION

Enmaa sets up fund for $1bn Saudi mixed-use complex

JEDDAH (Saudi Arabia), May 25, 2017

Saudi-based Al Enmaa Investment Company said it has set up a new real estate development fund to build a residential and commercial complex near the Al Haramain train station in the port city of Jeddah at an investment of SR4 billion ($1.06 billion).

The Darb Al Haramain complex will come up on a 1.38 million sq m area on the intersection of King Abdullah Road and Al Haramain Train Station in the old airport area of Jeddah city, said the company in a statement.

The work began on the project last December and the marketing and selling of units is likely to start early next year, it stated.

The complex has a modern unique structure that was designed by architecture group Hossam Al Abdulkarim in alliance with global industry giants US-based Cal Thorpe, Kranekel, and Canadian company WPS.

Al Enmaa has signed up Saqefat Al-Safa Real Estate Development and Management Company to undertake the implementation and marketing of the project, it stated.

On the new project, CEO Saleh Al Hanaki, said: "The complex, regarded as the most important residential and commercial complex for Al Haramain Train Station visitors, is expected to be completed in 2018."

"The complex design stands to be the first-of-its-kind when compared to other similar projects in Jeddah, as it is structured with seven floors (services + 5 identical residences + an appurtenance) with the minimum number of 60 floors for the residential buildings within the complex, and located directly on King Abdullah Road," revealed Al Hanaki.

In addition, the main road named “Al-Hijaz Road” was constructed to divide the complex from the west to the east, with buildings along the sides ranging from 20 to 60 floors each, he stated.

"The complex also includes a large central park and medium-size gardens that obtain all the sports and entertainment activities, as well as services amenities for the residences of the complex," he added.

The supervision and implementation of the project has been assigned to The Arab Center for Engineering Consultancy, a specialist in the field of engineering consultancy in Saudi Arabia for nearly 30 years with several major projects to its credit across the kingdom.

Darb Al Haramian complex will be a major facility catering to the Al Haramian station visitors. It will have access to high-level road networks as well as Jeddah metro stations, allowing major commercial and touristic interchange in the area.

According to Al Hanaki, the Sulaymaniyah main station in Jeddah is the most important railway station of the five connecting Al Haramain train station, as it links the departure and arrival of a huge number of users, which calls for an urgent demand of houses, hotels and various commercial projects.

Darb Al Haramian complex will be a major facility catering to the Al Haramian station visitors. It will have access to high-level road networks as well as Jeddah metro stations, allowing major commercial and touristic interchange in the area.

According to Al Hanaki, the Sulaymaniyah main station in Jeddah is the most important railway station of the five connecting Al Haramain train station, as it links the departure and arrival of a huge number of users, which calls for an urgent demand of houses, hotels and various commercial projects.

The residents of Darb Al-Haramain will able to travel in these high-speed trains completing the Al Haramain-Makkah journey within a record 21 minutes, and to Madinah in 90 minutes.

"This means they will enjoy the possibility of visiting the Holy Mosques on daily basis and at ease," remarked Al Hanaki.

He pointed out that owing to the surge in visitor numbers, there will be a need of 17,000 hotel rooms during the first five years of the train’s launch and its commercial services or activities.

"A total of 1.5 million visitors and pilgrims are expected to travel through Darb Al Haramain residential, accommodation, or commercial projects, benefiting from all the surrounding facilities, especially Al Haramain Train Station, King Abdulaziz University, its hospital, and all the vast commercial centers that are surrounding the location," he added.-TradeArabia News Service




Tags: Saudi | Mixed-use complex |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads