JEDDAH, 12 March 2007 — Early reservations for the newly announced Lamar project, the first skyscraper in Jeddah, have reached SR300 million in less than 10 days since the project’s announcement, according to the developers, Cayan Development and Investments.
Cayan Chairman Ahmed Al-Hatti said that the project was only announced last week and has had more reservations for the residential units than the developers had targeted. He said that most interest has been shown in the duplex and penthouse apartments.
“We are are also pleased with early sales of one, two, three, four-bedroom apartments,” he noted. Reservations have been made for more than SR300 million to date, he said.
Al-Hatti said the SR2 billion project will feature two residential towers, an upmarket mall, luxury spa, offices, indoor squash courts, outdoor tennis courts, swimming pools for adults and children, plus fully-equipped gyms and beauty salons. The 13-storey commercial development will curve its way between the two residential towers and offer offices in various sizes.
All will have access to an executive floor with a selection of meeting and conference rooms, plus covered parking, and a high-tech security system.
The proposed Lamar Spa will also be among the best of its kind in the Middle East, offering the most modern and up-to-date treatments in truly elegant surroundings, he added.
As well as being the first high rise development in Jeddah, Lamar will also be the first to offer residential, commercial and retail space — plus a spa — as part of one development.
Bader Al-Zahrani, chairman of Zahran Property Investments, the key investors in Lamar, said the interest shown is a clear confirmation that the project is well-timed. “Jeddah is developing quickly and Lamar has set new standards for development in the city,” he said.
“I am sure it will be only the first of many high-rise projects in Jeddah,” Al-Zahrani added.
