ALKHOBAR, 8 May 2008 — Emaar Middle East (EME), a subsidiary of Emaar Properties PJSC focused on project development in the Middle East region, has rolled out the multibillion dollar Alkhobar Lakes development with the launch of the first lakefront gated residential community, set amidst 80,000 sq m of serene water-bodies, within the mega project. Spanning over a total area of 4.3 million sq m to be developed in phases, Alkhobar Lakes features villas in a variety of elegant Arabic and Andalusian architectural styles.
Located in close proximity to Alkhobar City, Dhahran and Dammam, Alkhobar Lakes can be accessed conveniently from two highways, Dhahran-Beqaiq Highway and Abu Haidar Street which connects to Bahrain, Alkhobar, Dammam and Riyadh. Alkhobar Lakes is only 43 km from King Fahd International Airport.
The Eastern Province Municipality has recently approved the masterplan of the first phase, which alone has a development value of SR4.6 billion ($1.2 billion) and features more than 2,000 private villas in a series of nine villages with retail and leisure amenities that are perfect for family living. With a total area of 2.6 million sq m, the first phase will have 11 mosques including a Grand Mosque for Friday Prayers, educational complexes spanning over 28,000 sq m, a shopping center, community center, coffee shops and restaurants, healthcare facilities and other amenities.
“Alkhobar Lakes is one of the premier and major lakefront developments in Saudi Arabia,” said Alaa Abdullah Saed, chief executive officer, Emaar Middle East.
“Through the project, Emaar Middle East emphasizes on providing total privacy to residents while offering the luxury of large open spaces aesthetically built around placid lakes.”