Emaar Middle East (EME), a joint venture between UAE-based Emaar Properties and Saudi-based real estate company Al Oula Development, has announced the development Jeddah Hills - a SR 42 billion (US$11.2 billion) community located in the port city of Jeddah.
The development marks the second major foray into Saudi Arabia for Emaar Properties, with the massive 2,286 hectare Jeddah Hills project following the announcement of the SR 100 billion (U$26.6 billion) King Abdullah Economic City in December last year.
At a signing ceremony in Riyadh today, Prince Mishal Bin AbdulAziz Al Saud joined Emaar Chairman Mohamed Ali Alabbar and Al Oula Chairman Suliman Al Muhaidib to explain the vision behind the landmark project.
Nearly 20,000 residential units – a combination of townhouses and single homes – will be on offer, alongside commercial and retail facilities. Homes range from 500 sq. m. to 1500 sq. m. and will offer larger, scenic, home lots not commonly available in Jeddah. Residential units will go on sale from the first quarter of 2007.
“Jeddah Hills is truly a unique project. It shows us how development can take place in a manner which is harmonious with nature and yet offers a luxurious luxury living environment. Set between 70 and 90 metres on a hilltop, Jeddah Hills offers spectacular views over the surrounding landscape towards the Red Sea, North Jeddah and the Mountains in the East,” said Mohamed Ali Alabbar.
He added: “Jeddah City offers a new option in Saudi Arabia and joins the first phase of our plans for expansion in the Kingdom. There is more to come from Emaar and plenty more for would-be owners and investors to look forward to. Emaar is determined to confirm its position as one of the leading real estate companies in the world while delivering top quality homes to our customers and unprecedented returns to our shareholders.”
Al Oula Chairman Suliman Al Muhaidib said the use of strong, community oriented planning principles and ideally located amenities of the Jeddah Hills development will make it easier for residents to interact more, enriching their lives by the exchange of culture, insight and support.
“Jeddah Hills aims to set a new standard in luxury living by creating a variety of lifestyle choices set in a distinct natural environment,” Al Muhaidib said. “Emaar has once again proved its capabilities as a visionary in the region.”
The Jeddah Hills community is made up of 24 residential villages, each featuring a broad spectrum of community amenities arranged in a hub-and-spoke model. Included will be shared areas such as large parks, recreation spots and schools on the outer edges and community facilities such as mosques, healthcare services and village squares at the centre.
The villages, each measuring 45 hectares or 465,000 sq. m., are connected by a network of internal streets and external thoroughfares, public green spaces, community lakes and additional public amenities including playgrounds.
“The roads, traffic and public transportation networks in Jeddah Hills have been carefully planned to ensure as much access and as few inconveniences as possible,” Alabbar explained.
Landscaped areas and parks are also positioned between the various village communities to provide maximum advantage for all residents.
A typical village, according to Emaar, will house 750 residential plots, a local mosque, primary and secondary schools and essential amenities including clinics, police, post office, civil defense and municipality services. All amenities, including the transport network, will be within a five-minute walk of all residents.
The integrated transportation plan and network of public open spaces have been fine tuned to ensure maximum pedestrian access and a true sense of community, Alabbar said. “We want to foster an exchange among people, and between the people and the environment they live in,” he said. “Facilitating ease of movement and a safe, secure, distinct and memorable community is the best way to do that.”
