Emaar Middle East awards contracts for Al Nada and Al Ghadeer Villages within Al Khobar Lakes; work to commence shortly
• Follows ground-breaking of the project in June
• Several leading Saudi contractors to undertake work
• One of the largest gated communities in the Eastern Province
• Over 470 villas in Al Nada and Al Ghadeer Villages are part of initial construction schedule
Emaar Middle East, a leading property developer in the region, has awarded construction contracts for the first two residential villages in its Al Khobar Lakes development to several leading Saudi Arabian contractors. This follows the ground-breaking for the project in June by His Royal Highness Prince Mohammed Bin Fahad Bin AbdulAziz Al Saud, Governor of Eastern Province. Ground leveling work, excavation and other construction aspects will begin shortly.
Al Khobar Lakes is one of the largest gated communities in the Eastern Province and the Kingdom, and Emaar Middle East had recently unveiled the first residential villages – Al Nada and Al Ghadeer – as part of the first phase of the project. Customer response to the villa communities was overwhelming.
Eng. Alaa Abdullah Saed, Chief Executive Officer, Emaar Middle East, said: “Al Khobar Lakes is setting new standards in master-planned community development in the region and we are committed to honouring our valued customers by delivering the homes on schedule. The construction contracts, therefore, have been provided to leading Saudi Arabian contractors, who have demonstrated abilities to deliver projects according to specifications and guidelines.”
He added: “In developing the various components of Emaar Middle East, our prime consideration is to uphold international best practices. The contractors have been selected through competitive bidding giving every one a fair chance to prove their abilities and cost-effectiveness. With our team of leading contractors, we are confident that Al Khobar Lakes will set benchmarks in architecture and construction excellence.”
The initial construction will focus on over 470 villas that make up the Al Nada and Al Ghadeer Villages. The construction schedule has been so planned to ensure hand-over of homes before the end of 2010. Infrastructure development contracts will be awarded soon with the bids having opened to select the contractors.
A lakefront gated community, Al Khobar Lakes is a 4.3 million sq m development featuring 80,000 sq m of serene water bodies. The first phase of the project has a development value of SR4.6 billion (US$1.2 billion) and has over 2,000 private villas in a series of nine villages with educational complexes, community centres, retail and leisure amenities.
Al Khobar Lakes is expected to energize the Khobar economy by creating job opportunities for Saudi nationals and supporting the growth of various sectors such as retail, hospitality, healthcare and education.
Emaar Middle East had recently signed a contract with Saudi Telecom Company for implementing the communication infrastructure in all its projects in the Kingdom including Al Khobar Lakes and Jeddah Gate.
