Mosques developed as part of Emaar.E.C's commitment to create an integrated community
Al Sharbatly is the first donor to be associated with the initiative
Al Sharbatly mosque to be completed in less than a year
Total area of 22,673 sq m; 2,000 worshippers can congregate inside
Jeddah, Saudi Arabia; November 19, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), is developing mosques within KAEC as part of its commitment to create integrated communities. Hassan Abbas Al Sharbatly Charity has donated towards construction of the first mosque within Bay La Sun Village.
Mr Fahd Al-Rasheed, Chief Executive Officer and Board Member of Emaar.E.C, said: "We are committed to providing all amenities to residents within KAEC. Developing mosques in Bay La Sun Village, therefore, comes as a priority for us. All mosques built are to the highest standards followed in developing the other components in the neighbourhood. We are thankful to Sharbatly for donating towards constructing the mosque."
Sheikh Ibrahim Hasan Alsharbatly said:"We are proud to take the initiative to donate a mosque to KAEC, a step which highlights His Majesty King Abdullah bin Abdul Aziz's vision in bringing the religion as a foundation to modernization."
He added: "On behalf of Hassan Abbas Sharbatly, I extend my thanks to Emaar, The Economic City for providing us this opportunity. I ask Almighty Allah to help us all serve Islam and Muslims."
Spread over 2.3 sq km, Bay La Sun Village can be accessed from the Jeddah International Airport in less than an hour, and is a work, live and play mixed-use project. It comprises residential apartments, offices, schools, retail shops, shopping mall, hospital, mosques, hotels, civic amenities, and other attractions.
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
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About Emaar, The Economic City:
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.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.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 Alhamamy
ASDA'A Burson-Marsteller
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
