safqa_tijariya
March 29th, 2006, 02:15 AM
Savola Real Estate to Build Largest Shopping Mall
Arab News
MADINAH, 29 March 2006 — Savola Group for Real Estate has signed a contract for the construction of the Aliat Al Medina Shopping Mall at a ceremony held at the project site. The site is located along the Quba road on the second ring road next to Quba Municipality in the central park area. The project falls within Savola Real Estate’s plan to develop and build a chain of shopping malls in different locations around the Kingdom, which makes it one of the biggest investors in the field of shopping malls.
The contract was signed at the project site by Savola Group CEO Dr. Abdulraouf Mannaa and Naweel Abu Hamad, executive manager of the Fresecene Saudi Company. “The biggest shopping mall of the region in Madinah will open in 2007,” said Dr. Mannaa.
The project, located five kilometers from the Prophet’s Mosque, will be built in two phases. Phase one, which will include a vast leasing area and parking space for 3,400 cars, is estimated to cost around SR250 million and will take around 13 months to be completed starting from April.
Phase two, which is expected to cost around SR75 million, aims to increase the gross building area and consequently the leasing area. Restaurants and showrooms will be allocated space outside the mall.
“Our aim is to make this mall an attraction and exciting for families with entertainment and fun. The mall encompasses a Hyper Panda, an entertainment room, a restaurant and family gathering area and 5 huge hypermarkets of varying sizes. The mall will include space for 200 shops and lease negotiations are going on with a number of hypermarkets.
The mall will include 200 shops. Its design combines Madinah’s architectural splendor.
Arab News
MADINAH, 29 March 2006 — Savola Group for Real Estate has signed a contract for the construction of the Aliat Al Medina Shopping Mall at a ceremony held at the project site. The site is located along the Quba road on the second ring road next to Quba Municipality in the central park area. The project falls within Savola Real Estate’s plan to develop and build a chain of shopping malls in different locations around the Kingdom, which makes it one of the biggest investors in the field of shopping malls.
The contract was signed at the project site by Savola Group CEO Dr. Abdulraouf Mannaa and Naweel Abu Hamad, executive manager of the Fresecene Saudi Company. “The biggest shopping mall of the region in Madinah will open in 2007,” said Dr. Mannaa.
The project, located five kilometers from the Prophet’s Mosque, will be built in two phases. Phase one, which will include a vast leasing area and parking space for 3,400 cars, is estimated to cost around SR250 million and will take around 13 months to be completed starting from April.
Phase two, which is expected to cost around SR75 million, aims to increase the gross building area and consequently the leasing area. Restaurants and showrooms will be allocated space outside the mall.
“Our aim is to make this mall an attraction and exciting for families with entertainment and fun. The mall encompasses a Hyper Panda, an entertainment room, a restaurant and family gathering area and 5 huge hypermarkets of varying sizes. The mall will include space for 200 shops and lease negotiations are going on with a number of hypermarkets.
The mall will include 200 shops. Its design combines Madinah’s architectural splendor.