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Old January 21st, 2009, 04:00 PM   #1
thefreestyler
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JEDDAH | Al Mada | 358m | 1175ft | 86 fl x 2 | On Hold

Construction on Jeddah project to start in 2009

Keppel Land, one of Asia's leading property developers, feels the time is right to invest and develop a premium site in Saudi Arabia. This is despite the fact that economic uncertainties and stock market volatility continue to weigh down sentiments in the property market.

The reason is that population growth and an increasingly robust middle class are fueling a boom in high-end real estate development in Saudi Arabia, where government reforms are encouraging dynamic construction activity.

With the Jeddah Municipality's recent move to develop the Jeddah Corniche into one of the world's striking seafront developments, Keppel Land, one of whose specialties is seafront property development, saw an opportunity to make a major foray into the Kingdom's real estate sector.

The project is a 300-meter high waterfront development, consisting of two landmark residential towers with more than 900 luxury apartments, designed to meet the demand in the Kingdom's niche market of luxury lifestyle.

The residential complex will feature all the amenities and technological advancement of the 21st Century.

It is being developed by Keppel Al Numu, the recently formed joint venture between Keppel Land and the Saudi Economic and Development Company (SEDCO).

The company will handle the project from start to finish -- beginning from the first half of next year and complete it by 2013. The project is expected to cost around SR3 billion.

Keppel Land Group is excited about their first venture in the Kingdom, and this was reflected in Group Chief Executive Officer Kevin Wong's assessment. "We are excited that our venture into Saudi Arabia is a landmark waterfront development in Jeddah, the Kingdom's commercial and recreation hub, and our experience and expertise in developing large-scale integrated lifestyle developments will stand us in good stead in Jeddah."

Ang Wee Gee, executive director & CEO, international, of Keppel Land International Ltd. -- an arm of the Keppel Land Group, too echoed this sentiment. "With strong economic growth and accelerated economic reforms in the Kingdom, Jeddah has enjoyed high growth in real estate in recent years," he said.

"Jeddah's north corniche is a prime real estate location with its long sea frontage and cluster of new lifestyle developments. The city is also seeing a growing trend toward high-rise luxury apartments designed and developed by reputable developers. This is where Keppel Land will bring its superior quality in execution and management to bear on this new market," Ang said.

He was also cautiously optimistic about the project being completed on time despite the global economic crisis taking its toll on every region. "I am optimistic because of the core strength of the Keppel Land Group. Also our partners in this project are strong," he said.

"The global financial crisis will definitely impact everyone and many countries have slipped into recession or technical recession and this will slow growth and investments," Ang said.

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Old January 21st, 2009, 04:03 PM   #2
buildmilehightower
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for showing us your hot middle finger inappropriately??? or for what?
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Old January 21st, 2009, 04:05 PM   #3
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Iconic towers in Jeddah

Jeddah’s coastal skyline will undergo a dramatic transformation with the development of premium homes in Al Nawras, which is part of the high-end North Corniche residential precint.

Set against the Red Sea, the iconic 300 m high waterfront development consisting of two residential towers, will represent the epitome of luxurious living in the commercial capital of Saudi Arabia.

Developed by Keppel Al Numu, a joint venture between Keppel Land and the Saudi Economic and Development Company (SEDCO), the luxury apartments are designed to meet the Kingdom’s increasing demand for luxury lifestyle concepts that feature all the modern amenities and technological advancements of 21st century living.

The waterfront development will feature about 1,000 homes and enjoy a 220 m sea frontage. The popular residential precinct also features international hotels such as The Westin, Hilton and Sheraton, and established F&B outlets.

Conveniently accessible via main roads, the site is a 15-minute drive from the International King Abdulaziz Airport Jeddah and a 10-minute drive from the luxury retail belt – Tahlia Street. It is also a five-minute drive from the Red Sea Mall, the largest retail hub in Saudi Arabia.



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Last edited by thefreestyler; January 21st, 2009 at 04:19 PM.
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Old January 21st, 2009, 04:06 PM   #4
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for showing us your hot middle finger inappropriately??? or for what?
WHT THE HELL U TALKING ABT...???????
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Old January 21st, 2009, 04:11 PM   #5
buildmilehightower
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my bad, entirely my fault. I didn't see anything on your post apart from the word 'sorry' initially. Now I see the real stuff.

http://www.skyscrapercity.com/showthread.php?t=549952
(first association in my head)
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일본에서 가장 유명한 구두쇠 수도국장 이름은? 무라까와 쓰지마
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Old January 21st, 2009, 04:14 PM   #6
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The design on the first render reminds me of those ridiculous Dubai Marina Towers (or whatever the name was...)
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Old January 21st, 2009, 04:14 PM   #7
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yeah maan it looks familiar.
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Old January 21st, 2009, 05:25 PM   #8
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Google Earth | Nawras Residential Towers

A view of the plot from Google Earth


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Old January 21st, 2009, 05:36 PM   #9
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nice twins. hope they'll build it even during the crisis
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Old January 21st, 2009, 07:12 PM   #10
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New jeddah waterfront needs more like this twin ... ain't crisis in here
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Old January 22nd, 2009, 08:51 PM   #11
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jeddah looks fantastic
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Old January 22nd, 2009, 09:34 PM   #12
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What happens when high wind blows a branch off a top-floor palm-tree? The branch falls on the swimming pool, or the tennis courts?
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Old January 22nd, 2009, 09:41 PM   #13
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Very nice project. I hope it gets real.
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Old January 22nd, 2009, 09:47 PM   #14
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Nice design.
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Old January 23rd, 2009, 12:44 PM   #15
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Love the design!
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Old January 23rd, 2009, 01:06 PM   #16
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yeah very classy
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Old January 23rd, 2009, 01:47 PM   #17
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Looks good
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Just taking a look
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Old January 23rd, 2009, 02:56 PM   #18
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btw nawras in arabic means gull.
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Old March 21st, 2009, 10:15 PM   #19
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By Saudi Guy

Full Size


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Old March 21st, 2009, 10:35 PM   #20
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poor design
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