| 23 Nov 2008 |
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Emaar.E.C launches sale of last Marina Tower at Bay La Sun Village in King Abdullah Economic City
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Final opportunity to buy residential units at Marina Towers
Spectacular views of Bay La Sun Marina, Business Park, Bay La Sun Fountain and gardens
Studios, and one- and two-bedroom apartments to be handed over in September 2009
Sales on November 25 and 26 at Emaar.E.CEmaar.E.C
's Headquarter in Jeddah, and King Abdullah Economic City Sales Center in Riyadh
Jeddah, Saudi Arabia; November 23, 2008: Emaar, The Economic City (Emaar.E.C)Emaar, The Economic City (Emaar.E.C)
, the Tadawul-listed company developing King Abdullah Economic City (KAEC), has launched the sale of residences in the fourth and last Marina Tower within the Bay La Sun Village, the first integrated residential community in KAEC. Sale of studios and one- and two-bedroom apartments will be held on Tuesday and Wednesday, November 25 and 26, 2008. All homes offer magnificent views of the different constituents of Bay La Sun Village with some of the homes opening to ocean and garden views. The homes will be handed over in September 2009. Located on the main Marina of Bay La Sun Village, the new Marina Tower is last among the Marina Towers. Residents can enjoy a range of lifestyle amenities including two swimming pools - one for kids and one for adults; a multi- purpose hall and advanced health & fitness facilities. The new tower overlooks the Bay La Sun Marina, Business Park and Bay La Sun Fountain and features an immaculately landscaped garden lying behind the Tower.
Mr Sami AlHalabi, Acting Executive Director - Commercial, Emaar.E.CEmaar.E.C
, said: "The launch of the new residential units in the Marina Tower comes in line with the overall city development plan to offer an alternative lifestyle in a unique and modern environment. Investor response to the launch of the three Marina Towers earlier was overwhelming, reiterating the high level of customer confidence in KAEC."The new Marina Tower's location assures residents close proximity to the buzz of the neighbourhood with easy access to the Marina, beach and other modern lifestyle amenities. Residents will be part of a vibrant neighbourhood with office, retail, education and healthcare facilities in close proximity.
The sales event will take place at Emaar.E.CEmaar.E.C's Headquarter located at Prince Sultan St. in Jeddah, and King Abdullah Economic City Sales Centre located at Orchid Centre, across from the Black Box, on King Fahad Road in Riyadh. Potential investors can call 8001180010 or visit www.baylasun.com for more details.
KAEC is the single largest private sector-led project in the region and has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. The first phase of the project including the Bay La Sun Village, Industrial Zone and Sea Port has been launched to strong investor response. Work is progressing on the various components according to schedule.
About Emaar, The Economic City:
Emaar, The Economic City (Emaar.E.C)Emaar, The Economic City (Emaar.E.C)
, established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.CEmaar.E.C has a share capital of SR8.5 billion consisting of 850 million shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55 billion, was offered for public subscription. Emaar.E.CEmaar.E.C leads the master-planning and development of the 168 million sq m King Abdullah Economic City (KAEC), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.
KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has six components - sea port, industrial district, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area.
The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.
For more information, please contact:
Bashar Kharbat / Saleh Al Hamamy
ASDA'A Public Relations
Jeddah,
Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196
E-mail: b.kharbat@asdaa.com
s.hamamy@asdaa.com
Nivine William / Kelly Home
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: (+971 4) 334 4550
Email: n.william@asdaa.com, k.home@asdaa.com
© Press Release 2008
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