JEDDAH, 9 December 2007 — Assaudia Real Estate Development, a wholly-owned subsidiary of the Omar K. Al-Esayi Group (OKAG), has unveiled yesterday Al-Esayi Tower, a 24-story tower located in Al-Balad, Jeddah’s historic downtown district. The tower represents the first opportunity to buy commercial space on a freehold basis in the traditional business area.
Sales of the units start today at the Al-Esayi Tower sales center situated in Qaser Albahr Alahmar Hotel in Jeddah from 9 a.m. to 9 p.m.
With an estimated price tag of SR100 million, the Al-Esayi Tower will offer a top-of-the-line business environment, quality construction and superior infrastructure offerings. The 24-story tower will include 17 business floors for offices, two world-class showroom floors and three parking levels. It will also feature an easy access to major road networks, and views of the Red Sea and the surrounding historical district.
In a statement, Matasem Hajaj, general manager of Assaudia Real Estate Development Company, said: “As one of the fastest growing business environment in the Kingdom, Jeddah Balad Area has a high demand for world-class commercial office space, Al-Esayi Tower is the first tower to offer sales of modern office space that meet the needs of businessmen and investors, as it will represent the perfect environment for those who search for uniqueness and perfection in their daily business operations.”
The Al-Esayi Tower has been carefully planned and designed to provide a premium business experience, unique architecture and a first-of-its-kind opportunity in the middle of Jeddah’s historic district. Assaudia sought to achieve a complete, high-quality commercial environment that would be the right architectural fit for our society and this district.”
“The tower, Hajaj said, is aimed at three types of investors: businessmen and women based in Al-Balad who seeks to own a modern, fully equipped office close to their current location, firms who plan to expand their business network, and businesses specialized in banking and investment.”