08 June 2015
EWAAN Global Residential Company, a leading developer of quality housing projects, has entered into an agreement with the Saudi Ministry of Housing to develop one of the ministry's projects.
The move comes as part of both parties' efforts to provide more housing options in the Saudi market and help more Saudis to own homes all over the Kingdom.
The new partnership marks a major shift in the Ministry of Housing's efforts to meet the demand for housing in the Kingdom, by giving developers the opportunity to help in developing affordable housing options through the development of the Babak housing project, which the ministry showcased for 45 days at the Jeddah Projects Expo, inaugurated by Prince Khaled Al-Faisal and Minister of Housing Issam bin Saeed.
"Ewaan is proud to have this unique opportunity to serve the community," said Ewaan Chairman Anis Momena. "We are very pleased to be contributing to this promising national project and would like to thank the minister for his confidence in the company and its ability to perform its role in this national project, which includes the best of the best developers that have been carefully picked by the Ministry to guarantee the highest standards in quality and finishing. Our participation in this project is one more step towards solidifying Ewaan's belonging to the Saudi community and oneness with its people and national identity."
Riyadh Al Thaqafi, CEO of Ewaan, said that Babak will feature a lively, modern lifestyle in an advanced residential environment that takes into consideration the values and culture of the Saudi nation and meets the needs and aspirations of the families who will benefit from the project.
"We will be diligent in meticulous planning and innovative finishing, and will provide a full suite of public services with new technologies and designs that will help provide a modern, quiet lifestyle," he said.
"Today we are entering a new era of public-private partnerships that we have always wanted since it will improve the housing sector in the kingdom and expedite the building of homes to keep up with population growth and the rise in land prices and low supply."
"The time frame that the Ministry of Housing had set is a great challenge to us and other companies involved in the development," he added. "The Ministry has given us less than two years to finish the project and in accepting the challenge we would like to thank the Ministry for its confidence in us."
Ewaan is tasked with developing 559 of 4,300 residential units in the Babak project. Other developers besides Ewaan are Makkiyoon, Tamleek, Sumou, and Alissai.
"Our contribution to the new project is part of Ewaan's vision for the future," said Thaqafi. "We march on towards solidifying our ties with the community, and are committed to putting put our deep understanding of the local market to the benefit of boosting our capability of meeting the growing demand for residential real estate in the Kingdom in ways that meet the needs of Saudi families and their culture while staying in harmony with the times."
The 45-day expo at Jeddah's Hera'a Mall is proving very popular. Babak is close to the Haramain freeway in Jeddah, just a short distance from the new train station, which is set to change the course of the trip between the Red Sea city and the holy city of Makkah. The project has access to all services around the clock. The 559 apartments will be in 28 buildings, separated by elegant walkways and fully equipped parking lots.
EWAAN Global Residential Company, a leading developer of quality housing projects, has entered into an agreement with the Saudi Ministry of Housing to develop one of the ministry's projects.
The move comes as part of both parties' efforts to provide more housing options in the Saudi market and help more Saudis to own homes all over the Kingdom.
The new partnership marks a major shift in the Ministry of Housing's efforts to meet the demand for housing in the Kingdom, by giving developers the opportunity to help in developing affordable housing options through the development of the Babak housing project, which the ministry showcased for 45 days at the Jeddah Projects Expo, inaugurated by Prince Khaled Al-Faisal and Minister of Housing Issam bin Saeed.
"Ewaan is proud to have this unique opportunity to serve the community," said Ewaan Chairman Anis Momena. "We are very pleased to be contributing to this promising national project and would like to thank the minister for his confidence in the company and its ability to perform its role in this national project, which includes the best of the best developers that have been carefully picked by the Ministry to guarantee the highest standards in quality and finishing. Our participation in this project is one more step towards solidifying Ewaan's belonging to the Saudi community and oneness with its people and national identity."
Riyadh Al Thaqafi, CEO of Ewaan, said that Babak will feature a lively, modern lifestyle in an advanced residential environment that takes into consideration the values and culture of the Saudi nation and meets the needs and aspirations of the families who will benefit from the project.
"We will be diligent in meticulous planning and innovative finishing, and will provide a full suite of public services with new technologies and designs that will help provide a modern, quiet lifestyle," he said.
"Today we are entering a new era of public-private partnerships that we have always wanted since it will improve the housing sector in the kingdom and expedite the building of homes to keep up with population growth and the rise in land prices and low supply."
"The time frame that the Ministry of Housing had set is a great challenge to us and other companies involved in the development," he added. "The Ministry has given us less than two years to finish the project and in accepting the challenge we would like to thank the Ministry for its confidence in us."
Ewaan is tasked with developing 559 of 4,300 residential units in the Babak project. Other developers besides Ewaan are Makkiyoon, Tamleek, Sumou, and Alissai.
"Our contribution to the new project is part of Ewaan's vision for the future," said Thaqafi. "We march on towards solidifying our ties with the community, and are committed to putting put our deep understanding of the local market to the benefit of boosting our capability of meeting the growing demand for residential real estate in the Kingdom in ways that meet the needs of Saudi families and their culture while staying in harmony with the times."
The 45-day expo at Jeddah's Hera'a Mall is proving very popular. Babak is close to the Haramain freeway in Jeddah, just a short distance from the new train station, which is set to change the course of the trip between the Red Sea city and the holy city of Makkah. The project has access to all services around the clock. The 559 apartments will be in 28 buildings, separated by elegant walkways and fully equipped parking lots.
© The Saudi Gazette 2015
