JEDDAH, 27 January 2008 — Dubai’s Emaar Properties said yesterday it would launch the sale of premier homes in its $1.6 billion Jeddah Gate from Jan. 30, 2008 at the Downtown Burj Dubai Sales Center.
The sale of premier two, three and four-bedroom apartments and penthouses located in the Abraj Al-Hilal residential towers within Jeddah Gate is open to all GCC nationals only, Emaar said in a statement.
The mixed-use Jeddah Gate project spread over half a million sq m, featuring 6,000 residential units; 230,000 sq m of office space and 75,000 sq m of gross leasable area for retailers.
Emaar Middle East has already launched the sale of Abraj Al-Hilal, a cluster of three high-rise residential towers within Jeddah Gate.
Alaa Abdullah Saed, chief executive officer, Emaar Middle East, said: “The GCC region is witnessing a new era in multilateral cooperation, with GCC citizens to enjoy equal privileges across the region, and this has energized the property sector too. By opening the sale of Abraj Al-Hilal towers in Dubai to all GCC nationals, we are offering an opportunity to invest in one of the most sought-after residential projects in Saudi Arabia.”
He added: “Jeddah is one of the fastest growing cities in the region, and the central location of Abraj Al-Hilal near downtown Jeddah is a draw for investors from all over the GCC. Abraj Al-Hilal is the first residential component of Jeddah Gate, and features modern homes that meet the lifestyle needs of Jeddah’s cosmopolitan population.”
The three towers, ranging from 19 to 22 stories, have an elegant architecture that blends contemporary and traditional styles. The apartments are of size 124 to 600 sq m, and resident can enjoy a range of amenities including an outdoor swimming pool located on a lushly landscaped podium, an indoor swimming pool for ladies, and health and fitness facilities.
Other amenities include a business center with meeting rooms and a children’s daycare center.
Jeddah Gate is positioned on two sites; the first is spread over 413,000 sq m and is located along King Abdullah Street; and the second is spread over 140,000 sq m along Abdullah Al-Suleiman Street in close proximity to the main railroad linking the Holy Cities of Makkah and Madina, with the Holy City of Makkah being only 45 minutes away from Jeddah.
The project features outdoor plazas, gardens and waterscapes located along pedestrian promenades and boulevards. Cultural centers and mosques will add to the community feeling. Top-end retailers and several food & beverage outlets will also function in close proximity to the towers.