• Festive event to mark sales launch on May 21 at Hilton Jeddah
•Three- and four-bedroom villas in area of 300 to 400 sq m
•Integrated lifestyle amenities including schools, retail centres and fitness facilities
•Work to start soon; handover in 2010
Jeddah, Saudi Arabia - Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has unveiled Esmeralda Suburb, the first townhouse and golf community within the master-project. A fully integrated neighbourhood with schools, retail centres, health & fitness facilities and leisure amenities including an international golf resort, Esmeralda Suburb townhouses will be launched for sale on May 21, 2008, at a festive event to be held at Hilton Jeddah and Emaar.E.C's Riyadh Sales Centre.
At the sale event at Hilton Jeddah, Emaar.E.C will create the Esmeralda Suburb lifestyle experience with a range of leisure activities for children and families. Potential investors can discuss with Emaar.E.C sales staff details of Esmeralda Suburb and finalise their purchase options at this community event.
Mr Fahd Al-Rasheed, Chief Executive Officer, Emaar.E.C, said: "The launch of Esmeralda Suburb follows the successful unveiling of Bay La Sun Village, the first integrated residential community in KAEC. Esmeralda Suburb is the first townhouse and golf community in the mega-project, and gives investors the convenient choice of spacious, independent villas set amidst rich community amenities."
He added: "Esmeralda Suburb lends a new dimension to villa and townhouse development in KAEC. The launch of the new project also underscores the on-schedule development and progress of KAEC according to the masterplan time-line. Esmeralda Suburb townhouses are specifically designed with the Saudi families in mind, who value individual privacy and the conveniences of community living."
Mr Sami Al Halbi, Acting Executive Director of Commercial, Emaar.E.C, said: "The Esmeralda Suburb townhouses will feature various architectural styles and incorporate modern finishes and fittings. All homes will have elegant gardens and walkways, and car parking space. The homes are in easy access to a community and retail centre with world-class health & fitness facilities, children's play area and food & beverage options. The presence of schools, healthcare institutions and mosques in close proximity add to the quality of living."
He added: "Esmeralda community is set in 160,000 sq m of area. Customers can choose from three- and four-bedroom units that are strategically positioned in private clusters of 2, 4, 6 and 8. The villas range in size from 300 to 400 sq m, and feature verandas and balconies. The homes will be handed over in the second quarter of 2010."
Emaar.E.C has set up a special toll free number - 8001180010 - to streamline the sales operations including facilities for early registration, and for more information on the project.
Esmeralda Suburb is part of the Residential Communities, a key component of KAEC. Located on the Red Sea coast on 168 million sq m, KAEC has five other components: the Sea Port, Industrial Zone, Central Business District, Educational Zone and Resort District. The first phase of the project has been launched to strong investor response and work is progressing according to schedule. Contracts for Esmeralda Suburb are currently being awarded and work will start soon.
-Ends-
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 / Rayyan Dahlawi
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196
Email: b.kharbat@asdaa.com
r.dahlawi@asdaa.com
Nivine William / Kelly Home
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in MENA
Dubai, UAE
Tel: (+971 4) 334 4550
Email: n.william@asdaa.com, k.home@asdaa.com
© Press Release 2008
