Al-Suwaiket opens tallest tower in Eastern Province

Updated 06 June 2012
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Al-Suwaiket opens tallest tower in Eastern Province

The Eastern Province’s skyline is changing, and changing rapidly. The latest landmark, Al-Suwaiket’s SR 350 million, 46-story Dhahran Tower on the Dammam-Alkhobar Highway, was opened on Monday.
Al-Suwaiket Group Chairman Mubarak Al-Suwaiket and his sons, Abdullah and Abdul Aziz, personally received a number of high-ranking businessmen and executives at the soft opening ceremony.
The property belongs to the Alkhobar-based construction magnate Mubarak Al-Suwaiket who is frequently featured among the richest Saudi businessmen. At SR 19.5 billion, he was listed at No. 9 in Arabian Business’ Saudi Rich List 2012.
“Thank you, I am very happy,” he told Arab News yesterday.
His son, Abdullah, who operates as the group’s chief executive officer, said: “There are a number of important elements associated with this landmark building; the most important aspect is that it has 46 stories and a helipad, it is the tallest tower in the Eastern Province; it is a purely residential building with no commercial offices, and is meant to cater to the high-end market.”
Although the exact height of the tower could not be ascertained, a well-informed company executive said that each floor has a minimum height of four meters.
“Since we have 46 floors; so you can do the calculations; to me, the height of the building is close to 200 meters,” he said.
Abdullah Al-Suwaiket estimated the total cost of the project at SR 350 million.
“This is Manhattan-style of living; we have in this tower 291 apartments; some are two-bedroom while others are three-bedroom apartments. From the sixth floor to the 34th floor, we have two-bedroom apartments and from the 35th floor to the 44th, we have three-bedroom apartments,” he said.
In a country where the high-end customers prefer villas to apartments, will the Manhattan-style concept of apartments succeed? According to Abdullah, it is going to be a challenge.
“But we have taken risks in the past and succeeded; we are looking at corporate houses and multinationals who need to provide a high style of living to their employees,” he said.
“And also please do remember that our Euro Village was the first compound in the Eastern Province; it then became the benchmark for housing compounds,” he said. “So, InshaAllah, we hope to succeed with this one.”
Dhahran Tower General Manager Ioannis Iltsidis, a Greek national, and Al-Suwaiket’s Euro Village General Manager A.Y. George took the guests around the massive and plush property.
“This is no less than a five-star hotel. All apartments are fully furnished in the most luxurious style,” said Iltsidis.
“Then you have 24-hour fool-proof security, spa, jacuzzi and hamam facilities, both for men and women, on the 5th floor; concierge service, housekeeping service, everything that one can ask for is here,” said George who as Euro Village manager for 26 years has immense experience about market preference.
“All apartments have separate cooling features.”
The apartments will be available on an annual rental basis.
“The rent for the two-bedroom apartments will in the range of SR105,000 to SR120,000 per year depending on the floor and the view. The three-bedroom apartment’s rent will be in the range of SR120,000 to SR155,000,” added George.
The apartments are indeed luxurious and done in a very aesthetic manner. The panoramic views from the 35th floor of the highways and Alkhobar and Dammam are breathtaking.
The spot where the high-rise stands was previously known for the tepid DHL building on the opposite side. It will now be known for the Al-Suwaiket Tower.
The entire construction was carried out by Al-Suwaiket itself.

 


Disney again makes history with takings above $7bn for 2018

Updated 11 December 2018
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Disney again makes history with takings above $7bn for 2018

  • Box office gross marks second biggest year for Disney
  • Latest offering "Mary Poppins Returns" expected to dominate box office

LOS ANGELES: Walt Disney Studios is again ending the year on a high note, posting more than $7 billion in global box office earnings, thanks to hits such as "Black Panther" and "Avengers: Infinity War."
"This is only the second time in history any studio has surpassed the $7 billion mark, after Disney's own industry-record 2016 global gross of $7.6 billion," the company said in a statement on Monday.
"The Studios' estimated international box office gross through December 9 is an estimated $4.069 billion, marking our second biggest year and the third biggest in industry history," it added.
Disney's success comes as the studio is set to release "Mary Poppins Returns" on December 19, which is expected to top the box office during the holiday season.
"To date, four of the top eight worldwide releases of the year are from The Walt Disney Studios, including the top two global and top three domestic releases," the company said.
"Avengers: Infinity War," made by Disney's Marvel subsidiary, led the way, earning $2 billion alone. It is followed by superhero movie "Black Panther," which earned $1.35 billion worldwide.
"Incredibles 2," made by Pixar, another Disney subsidiary, earned $1.24 billion.
Other top box office earners for 2018 are "Ant-Man and The Wasp," "Solo: A Star Wars Story," and "Ralph Breaks the Internet," which has held the number one spot at the North American box office for the third consecutive week.