Oct 11 2008 |
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Landmark project signals entry of Singapore-based Keppel Land in the Saudi high-end real estate market
Jeddah, 11 October 2008: Jeddah's coastal skyline will undergo a dramatic transformation with the development of a premium site in the Al Nawras area of the Corniche.
The project is being developed by Keppel Al Numu, the recently formed joint venture between Singapore-based Keppel Land, one of Asia's leading property developers, and the Saudi Economic and Development Company (SEDCO) .
The iconic 300-metre high waterfront development, consisting of two landmark residential towers with more than 900 luxury apartments, is designed to meet the Kingdom's increasing demand for luxury lifestyle concepts that feature all the modern amenities and technological advancements of 21st century living.
Most recently, Keppel Land is the recipient of no less than 11 Euromoney Liquid Real Estate Awards 2008. Organized by Euromoney Liquid Real Estate magazine, a leading publication focused on international real estate financial markets, the Awards were based on a global survey of senior decision-makers in real estate banking, investment, development and advisory firms, as well as major corporate end-users in more than 50 countries worldwide. Keppel Land was also ranked among the Top Ten Asian companies in the prestigious Euromoney Award for Excellence in Real Estate 2006.
Keppel Al Numu will soon unveil this exciting new project that will set new benchmarks for the highest standards of design, construction, and exterior and interior finishing.
Jeddah municipality has recently stated its intention of turning the Jeddah Corniche into one on the most beautiful seafront developments in the world and the strikingly iconic design of the Keppel Al Numu property will make a spectacular contribution to the transformation.
-Ends-
About Keppel Al Numu
Keppel Al Numu Development Limited is a joint venture company between Keppel Land Limited, one of Asia's premier property developers and the
Saudi Economic and Development Company (SEDCO)
, a leading private wealth management organization in the Kingdom of Saudi Arabia.
About Keppel Land Limited
Keppel Land is the property arm of the Keppel Group, a Singapore-based multinational group with key businesses in offshore and marine, infrastructure and property, and a global customer base across 30 countries.
Geographically diversified across Asia, Keppel Land is a leading property developer globally recognized for its award-winning premier residential projects, investment-grade offices and integrated townships. It also aims to be a premier manager of property funds.
Keppel Land is also recognized for buildings that incorporate internationally-recognized best practices in environmental design and performance, taking into consideration energy and water efficiency, indoor environment quality, building management and environmental innovation.
About SEDCO
SEDCO, founded in 1976, is based in Jeddah, Saudi Arabia, and is today a major private Shari'ah compliant wealth management company with a wide and diversified spectrum of financial, real estate and direct investments in Saudi Arabia and around the world.
SEDCO does more than follow the tenets of Islam. It also sponsors academic research, symposia, and conferences on the development of markets and products for Muslim investors who seek to invest according to the Shari'ah codes. SEDCO also supports and participates in educational and research programmes at Harvard University and other institutions. SEDCO's co-sponsorship with Dow-Jones Indexes of the International Islamic Finance Forum held annually in Dubai, has come to be known as the "Davos" of Islamic finance.
The company is organized into three separately managed business groups, each of which is broadly diversified: the Real Estate Investment Group which manages a large and growing portfolio of real estate assets; the Financial Investment Group which works with the world's leading financial institutions in the development of a global market for Shari'ah compliant Islamic investment products; and the Direct Investment Group which manages SEDCO's private equity investments in the MENA region.
For more information contact:
Majd Sayyaf
TRACCS
Tel: +966 2 663 2525
Mob: +966 54 0099 195
Email: majd.sayyaf@traccs.net
© Press Release 2008
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