yusef
June 6th, 2007, 12:19 PM
(MENAFN - Arab News) RIYADH, 5 June 2007 � As a standing testimony to Riyadh as "a center of opulence and regality," a major SR1.5 billion project is in progress to make the city the "world's jewel capital" as envisioned by Prince Bandar ibn Mohammed Al-Saud.
Opposite the Directorate of Passport on King Fahd Road, at the heart of this complex will be a 7-star hotel, the first of its kind in Riyadh, along with luxurious villas and a four-story commercial center of international jewelry and luxury shops.
The whole idea behind this mega project, according to Michael Say, chairman, M.S. Maxco, the prime contractor from the Philippines, is to offer an elevated lifestyle and outstanding investment opportunities to the business community.
The three-in-one complex would bring it global recognition as the World Jewel Capital (WJC)," Say said, adding that his is the first Philippine company to land a prestigious contract in the Kingdom.
Long-term observers pointed out that Prince Bandar's mega project makes business sense as it targets, among others, Saudi women, who own an estimated 40 percent of private wealth worth over SR90 billion and thousands of businesses from retail to heavy industry.
The planned construction of an exclusive jewelry showroom could provide an outlet for these women to shop for gems and jewelry in the luxurious ambience of a seven-star setting. It could also bring to Riyadh women from other Gulf states looking for the ultimate in ornaments, sought after not only as a status symbol but also for festive occasions, such as marriages, that take place almost all year-round.
Spelling out the salient features of the project, Say explained that the "World Jewel Capital" would embody Prince Bandar's "visualization of an architectural icon. It will feature a luxurious complex of Mediterranean-inspired low-rise garden villas harmoniously blending with the stunning architectural design of three crowned towers which form the new icon of this royal landmark."
He said 40 beautifully appointed villas of modern Arabian theme would be built embodying the latest in security, lighting and kitchen systems. "The Royal Tiara Villas will redefine the style of high living," Say noted.
Another high point of its distinctive architecture will be a mosque capable of accommodating 200 worshippers. Prince Bandar has approved its architectural design. Besides villas, luxury apartments are also on offer in a choice of one-, two- and three-bedroom unit layouts.
"The Crown floors are specially appointed for the exclusive use of royalties and VIPs. Its exclusive membership club, The Emerald Club, will be for women of taste and style," Say added.
Nick J. Tonoski, WJC marketing director, told Arab News that the 35-story jeweled tower, resembling a gem-like structure, would be reflected in the Royal Gem Apartment for tourists and guests. Another highlight will be the center for precious gems and intricate jewelry display "of select international jewelers and prominent royal personalities. The hotel will showcase a lobby and function rooms offering exciting illusions of colorful lighting effects," he observed.
Tonoski said the complex, which is already under construction, would boost the Saudi economy, since the construction material is being procured locally. Saudi manpower will also be hired when the project is up and running, he added.
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093155407
Opposite the Directorate of Passport on King Fahd Road, at the heart of this complex will be a 7-star hotel, the first of its kind in Riyadh, along with luxurious villas and a four-story commercial center of international jewelry and luxury shops.
The whole idea behind this mega project, according to Michael Say, chairman, M.S. Maxco, the prime contractor from the Philippines, is to offer an elevated lifestyle and outstanding investment opportunities to the business community.
The three-in-one complex would bring it global recognition as the World Jewel Capital (WJC)," Say said, adding that his is the first Philippine company to land a prestigious contract in the Kingdom.
Long-term observers pointed out that Prince Bandar's mega project makes business sense as it targets, among others, Saudi women, who own an estimated 40 percent of private wealth worth over SR90 billion and thousands of businesses from retail to heavy industry.
The planned construction of an exclusive jewelry showroom could provide an outlet for these women to shop for gems and jewelry in the luxurious ambience of a seven-star setting. It could also bring to Riyadh women from other Gulf states looking for the ultimate in ornaments, sought after not only as a status symbol but also for festive occasions, such as marriages, that take place almost all year-round.
Spelling out the salient features of the project, Say explained that the "World Jewel Capital" would embody Prince Bandar's "visualization of an architectural icon. It will feature a luxurious complex of Mediterranean-inspired low-rise garden villas harmoniously blending with the stunning architectural design of three crowned towers which form the new icon of this royal landmark."
He said 40 beautifully appointed villas of modern Arabian theme would be built embodying the latest in security, lighting and kitchen systems. "The Royal Tiara Villas will redefine the style of high living," Say noted.
Another high point of its distinctive architecture will be a mosque capable of accommodating 200 worshippers. Prince Bandar has approved its architectural design. Besides villas, luxury apartments are also on offer in a choice of one-, two- and three-bedroom unit layouts.
"The Crown floors are specially appointed for the exclusive use of royalties and VIPs. Its exclusive membership club, The Emerald Club, will be for women of taste and style," Say added.
Nick J. Tonoski, WJC marketing director, told Arab News that the 35-story jeweled tower, resembling a gem-like structure, would be reflected in the Royal Gem Apartment for tourists and guests. Another highlight will be the center for precious gems and intricate jewelry display "of select international jewelers and prominent royal personalities. The hotel will showcase a lobby and function rooms offering exciting illusions of colorful lighting effects," he observed.
Tonoski said the complex, which is already under construction, would boost the Saudi economy, since the construction material is being procured locally. Saudi manpower will also be hired when the project is up and running, he added.
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093155407