Time for some luxury: Crystal Lagoons Corp to launch $4 billion mega project in Saudi
Crystal Lagoons Corp, a patented technology developer of giant crystalline lagoons, has unveiled its 8-hectare project valued at $4 billion in the Prince Sultan Cultural Centre (PJCC) mixed-use community under development in Saudi Arabia.
The project will include a dedicated medical city, cultural centre, educational facilities, luxury hotels, residential villas and apartments supported by extensive leisure facilities including the country’s first-ever Jack Nicklaus 9 hole golf course.
The second project in the Kingdom for Crystal Lagoons, the lagoon will be the leisure centrepiece of a 240-hectare PSCC, located just north of the Red Sea coastal city of Jeddah.
“This will be the largest manmade crystalline lagoon of its kind in the Kingdom and represents yet another milestone in Crystal Lagoons’ efforts to expand its Middle East presence,” said Kevin P Morgan, CEO, Crystal Lagoons.
“The project also holds special significance for the country as it is being built to honour the memory of the late Crown Prince Sultan bin Abdulaziz Al Saud and our partnership with PSCC gives us a unique opportunity to contribute our expertise towards a world-class project at the heart of a new a cultural icon for the region.”
A multi-phased project, with phase one scheduled for completion in 2015, the project has already broken ground and is scheduled to be up-and-running within the next three to five years.
A total of 3,600 residential units comprising apartments, villas and condominiums, 750 rooms spread across three hotels and a business park will be complemented by the proposed medical park, which will include hospitals, clinics and support services administered by Houston Methodist, the largest hospital operator in the US.
An international university, two schools, extensive retail and the cultural centre will round out the development.
“The potential of Saudi Arabia’s real estate sector makes it one of the most exciting markets in the region right now, and arguably one of the most important. This particular project demonstrates the fluid adaptability of our concept and technology to even the most demanding environment,” added Morgan.
“With a number of live and pipeline projects across the Middle East, from Egypt to our most recent signings in Oman and the UAE, we are seeing tremendous interest from developers around the region who are keen to differentiate their projects and offer a new dimension to the consumer leisure experience,” he concluded.
Designed to be self-cleaning, the lagoons only require topping up in response to evaporation and use up to 100 times less chemicals than traditional pool systems, and only two per cent of the energy required by conventional filtering technologies, making them incredibly sustainable, a company statement said.
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