Emaar Middle East has recorded overwhelming sales response for Jeddah Gate, its SR6 billion ($1.6 billion) mixed-use master-planned community spread over half a million sq m in Jeddahs' new downtown area.

The strong investor interest to the first phase of sale that started yesterday (November 7) indicates the growing demand for world-class residential projects in Jeddah, said a Emaar official.

"The phenomenal sales interest on the first batch of homes at Jeddah Gate is an indication of the trust that investors have in Emaar, which has a proven track-record in creating world-class neighbourhoods. Jeddah Gate will be a new lifestyle experience for residents, and further strengthen investments to the Kingdom," said CEO, Emaar Middle East, Alaa Abdullah Saed.

"The central location of Jeddah Gate in the new downtown area of the city, and the extensive retail, leisure, recreational and cultural facilities being integrated in the neighbourhood are key selling points of the project. We are bringing in international standards to the homes that are designed by a global team of engineers, architects and designers," added Saed.

Jeddah Gate is positioned on two sites; the first is spread over 413,000 sq m and located along King Abdullah Street and the second is spread over 140,000 sq m along Abdullah Al Suleiman Street in close proximity to the main Jeddah railway linking the Holy Cities of Makkah and Madina to Jeddah. 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.

Potential buyers can visit Jeddah Gate Sales Centre situated on King Abdullah Road near the Old Airport. For more details, log on to www.emaar.com or call toll free 800 12 Emaar (36227).

Emaar's expansion to Saudi Arabia is in line with its Vision 2010 to become one of the most valuable companies through geographic expansion and business segmentation.- TradeArabia News Service