Jeddah Hills
The project includes 24 villages that contain 20 thousand residential units…
Sale starts Mid-2007
((Emaar Middle East)) launches the ((Jeddah Hills)) Project in Saudi Arabia at 11.2 billion US dollars
Riyadh, Moussaed Al-Zayani
((Emaar Middle East)), established through an alliance with “Real Estate” Emaar UAE and Al-Oula Real Estate Group in Saudi Arabia, has revealed yesterday the ((Jeddah Hills)) Project in Saudi Arabia of a total value that reaches up to 42 billion Saudi riyals (11.2 billion US dollars). The property of the Project is divided between Al-Shoula for Commerce and Emaar Middle East.
The Project aims at establishing a luxurious residential complex that covers an area of 2286 hectares in the city of Jeddah and contains around 20 thousand residential units that vary between multi-story houses and independent houses. The area of these lodgings that will be put up for sale starting from the first half of next year will range between 500 and 1500 square meters. Moreover, the Project embraces a group of commercial utilities and retail shops.
Yesterday the partnership agreement was signed in the Kingdom Tower in Riyadh in the presence of Prince Moushel Ben Abed Al-Aziz Chairman of the Board of Directors of the Al-Shoula for Commerce, Mohammed Ali Al-Aber Chairman of the Board of Directors of Emaar, Sleiman Al-Mouhaydib Chairman of the Board of Directors of Al-Oula Development and Ayedh Al-Qahtani President of Al-Oula.
Mr. Mohammed Al-Abaar President of Emaar Real Estate Company confirmed that the ((Jeddah Hills)) Project represents a wonderful sample of the luxurious lifestyle that is in harmony with nature. The Project, located on the top of a high hill is characterized with a great view overlooking the surrounding natural sceneries in the following three directions: the Red Sea, the northern part of the city of Jeddah and the mountains in the eastern part.
Mr. Al-Abaar added that the Project presents residential options in Saudi Arabia and is part of the first phase in the expansion plan adopted by ((Real Estate Emaar)) in the Kingdom of Saudi Arabia, noting that they are determined to consolidate the company’s position as one of the most important leading companies in the real estate sector worldwide.
On the other hand, Mr. Sleiman Al-Mouhaydib Chairman of the Board of Directors of Al-Oula Development noted that the Project provides a healthy and comfortable environment that allows the social and cultural communication among the residents on all levels, and added that it will lay unique lifestyles in the middle of very attractive landscapes.
The complex will be constituted of 24 residential villages each containing a group of utilities that range between schools, recreational sites and huge parks on the village’s borders, in addition to a mosque, facilities for health care services and open squares in the middle. The villages of the Project, the area of each reaching 45 hectares or 465 thousand square meters, are connected to the a network of internal roads and the external main streets.
Moreover, these residential complexes are separated by a group of harmonious sights such as green spaces, lakes and open sports stadiums. Each typical village will contain 750 residential units, a mosque, schools for all educational levels, medical clinics, police stations, post center, civil defense unit and municipal services department.