Cityscape Jeddah builds on success
Awards recognise excellence in KSA real estate
A number of prominent real estate developers and projects have been recognised for their contributions to Saudi Arabia’s burgeoning real estate industry, at the Cityscape Jeddah awards 2011.
Among the winners announced on June 11, were Sumou Real Estate Development Company for Bawabat Makkah, which won best urban design and master planning; Rayadah Investment Company’s Vertical Medina, best residential project award; Al Marina, best waterfront development by Injaz Development Company; and Emaar ME’s Jeddah Gate, best commercial, office and retail project.
“The development of the project will be done in stages during the next 15 years and Cityscape is an important platform for us to connect with the various real estate expert and developers who will work on the project, as well as providing us with the opportunity to showcase our future plans and projects,” said Bawabat Makkah CEO Eng. Essam Kalthoum.
Eng. Ahmad Al Kulli accepted the award for Jeddah Gate on behalf of developers Emaar Middle East, with General manager Ahmed Ali Al Kulli commenting that the global economic downturn and recent political unrest have had no impact on the developer’s projects.
“Saudi Arabia is witnessing a new era in the property sector, following the recent announcement by Custodian of the Two Holy Mosques King Abdullah to further strengthen the Kingdom’s housing infrastructure. Through focused investments, the property sector can contribute to meeting the growing requirements of quality housing in the Kingdom,” Kulli added.
During the exhibition Emaar ME also promoted its ongoing developments Jeddah Gate and Al Khobar Lakes.
Other major announcements at the exhibition included:
Aloula Residential Community is to be developed by Mawared Real Estate Company, a subsidiary of Aloula Real Estate Development Holding. The proposed residential mixed use development will be located on a 280 hectare site north of the city.
Kinan is to develop its 3 million square metre fully serviced residential community, Masharef, in the north east.
Damac Properties, developers of one of Saudi Arabia’s tallest towers, Al Jawharah, announced its new luxury real estate plans for Jeddah and Beirut.
The Kingdom’s fourth largest city, Knowledge Economic City (KEC), was also highlighted as a “catalyst for economic and social development” in the Kingdom.
The exhibition, organised by IIR Middle East and National Exhibitions Company (NEC) closes today.
