EMAAR to develop Kingdom City & Kingdom Tower Jeddah

Published June 14th, 2009 - 08:33 GMT

Prince Alwaleed bin Talal bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company, on behalf Jeddah Economic Company signed a joint venture with Mr. Mohammed bin Ali Al Abbar, Chairman of EMAAR Properties on behalf of EMAAR. The signing was attended by Kingdom Holding’s Board and Investment Committee members, Eng. Talal Al Maiman, Executive Director for Development and Domestic Investments, and Mr. Shadi Sanbar of Kingdom Holding, CFO and Mr. V.K Gomber CEO of EMAAR. The signing took place at Kingdom Company offices in Riyadh.


Prince Alwaleed commented: “The alliance between Kingdom Holding Company and EMAAR is strategic.”

 

EMAAR are in charge of developing and supervising the construction of Jeddah Kingdom City land and Kingdom Tower, the highest in the world. EMAAR was selected by Kingdom Holding from 5 other international developers, for their previous proven experience in the development of mega projects, their knowledge of the area and social setup. EMAAR was able to bring together an experienced team within a week from the signing to work on the development, master planning, traffic study, environment and updating market research and commencement of ground work. Furthermore, the preliminary license was obtained and the EMAAR team is working closely and in co-ordination with the Jeddah municipality.

Engineer Talal Al Maiman, commented: “Through the continuous guidance of HRH Prince Alwaleed, KHC uses its resources to their utmost potential to lead to outstanding achievements and to make future visions a reality through leading and challenging projects. I have all the confidence that the return on investments of these projects will be very rewarding, God willing as KHC’s previous projects have been in Riyadh.”

In October last year, King Abdullah, unveiled and inaugurated the two colossal projects of Kingdom City in Jeddah and Kingdom Tower in Jeddah in the presence of HRH Crown Prince Sultan Bin Abdulaziz, Prince Khaled Alfaisal Governor of Makkah Province, Prince Alwaleed and Eng. Adel Muhammad Faqih, Mayor of Jeddah and other members of the royal family.


The unveiling of the designs and plans of the tower that will adorn the city of Jeddah and will be over 1,000 meters high, was held at the opening of a major international architectural exhibition “Towards the First World” in Jeddah, Saudi Arabia. KHC was the main sponsor of this historical event. KHC’s two projects: Kingdom City and Kingdom Tower were the highlight of the exhibition with a major presentation. It was the first time the design for Kingdom City and the iconic Kingdom Tower were revealed publicly. During the event, King Abdullah and Prince Alwaleed toured KHC’s exhibition of the master plan and designs of the project with a total investment of more than SR100 billion.

King Abdullah had previously inaugurated the Kingdom Tower in Riyadh during which Prince Alwaleed presented the King with the awards that Kingdom Centre had received: the Best New Skyscraper of the Year 2003 for Kingdom Tower and The Innovative Design & Construction of a New Project 2003 for Al Mamalaka Mall.

 

Kingdom Tower is part of the Kingdom City development which will be one of the largest and most comprehensive real estate projects to be built in Saudi Arabia located at Obhur, North of the creek of Jeddah and the mountains to the east. Prominently located on a prime site, the master plan, encompassing 5.3 square kilometers. Kingdom City in Jeddah is 20 km from the old city of Jeddah near King Abdulaziz International Airport. The area that comprises of buildings is 23 million square meters includes commercial, residential, institutional, educational, entertainment, retail and hotel facilities. The centerpiece of the development will be the landmark Kingdom Tower. Kingdom City is expected to house 80,000 residents and accommodate 250,000 visitors who will enjoy its facilities; lakes, canals, water sports and other leisure activities.

 

Kingdom Tower will rise from a large retail and conference centre podium to and include five-star hotel accommodations, office space and luxury residences that encompass dramatic, sweeping views of the Red Sea, Obhur Creek and the mountains to the east. Essentially triangular in plan, Kingdom Tower is conceived as a graceful, sculptural form that reflects not only the unique character of Jeddah but also the sky, water, and land from its taut glass skin.


© 2000 - 2021 Al Bawaba (www.albawaba.com)

You may also like