JEDDAH, 16 May 2007 — Emaar, The Economic City (Emaar EC), a Tadawul listed company responsible for the development of the King Abdullah Economic City (KAEC) and the single largest private sector-led development in the Kingdom, has signed a contract with Saudi Oger Ltd. on Monday for the construction of residential project.
Under the contract, signed by Dr. Abdulraouf Al-Mannaa, managing director, Emaar, and Ayman Hariri of Saudi Oger Ltd., the latter will build four residential towers each featuring 616 apartments overlooking the Red Sea. Also covered in the contract is the construction of parking areas, roads, and landscaping.
“We are thrilled to be chosen by Emaar to construct this project as we know it is one of the most important projects in Saudi Arabia,” Mazen Fayed, head of corporate communication at Saudi Oger Ltd told Arab News.
“It is Saudi Oger’s commitment to excellence, our reputation and qualifications that won us the contract,” he added. The residential towers to be completed in 16 months will have full amenities including outdoor swimming pools, 24-hour security including maintenance, card-controlled access for vehicles, spacious lobbies and resort-style pool deck.
The towers will also overlook a world-class harbor and main canal lined with pedestrian walkways featuring restaurants and retail outlets.
The construction of the newly signed residential project was expected to get under way as soon as possible, Al-Mannaa said. “We are committed to providing world-class homes at KAEC, and Saudi Oger Ltd. has proven expertise in undertaking projects that demand efficiency in terms of build quality and timely delivery,” he said.