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Status updated on 19/12/2008

Project name: Nawras Residential towers
Developer: Keppel Al Numu
Owner: ?
Consultant: ?
Contractor : ?
Designer: ?
Project Management: ?
Plot : ?
Total Cost: 3,000,000,000 SR = 800,000,000$
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No of Building : 2
Floors : ?
Type : residential units
No of Units : 900 luxury apartments
High : +300

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Construction
Begin : First Half 2009
Complete : 2013

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Original Post



Singapore developer Keppel signed a joint venture with Saudi fund manager SEDCO to develop 3 residential towers on a plot on the Corniche road next to Nawras square. It is set to be launced next year.

for more information: http://press.keppelland.com.sg/article.asp?id=1599
 

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Fairouzy
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Looks great!!! Jeddah has one of the best shorlines I've seen, and it will look lovely there!
 

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lool last time i was there i looking for these plot and wondering what will built there and now i knew:D i think in 2009 the north beach will be fully under constriction!
 

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I know this is not the final render but even thought and to be more realistic they should view only there towers not 4 as in the picture
 

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^^ Lamar Towers and this project are two seperate developments. However, both are located on the same road within close proximity to eachother.
 

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Discussion Starter #9
The press statement clearly said 3. My guess would be the other 2 might be built in the future since they also mentioned that development will be built in stages.
 

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do you know where Keppel office in jeddah i might go and ask theme about it!
 

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^^

You can call SEDCO (Economic & Development Co. Ltd.), Tareg Ragaban is the vice president.


Oops, it is in the Keppel link mentioned above by HiJazzy. Thanks to HiJazzy.
 

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it's wrote in the article 220m high! and here large render i found it in same link you forget to upload it DxBconomist;)
 

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^^

Actually, I liked that this pic is totally new, at least to me, and I wanted to share it here.
 

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Seafront Apartments, Jeddah, Saudi Arabia



Location : Jeddah Saudi Arabia

Type of development : Luxury Waterfront Apartments

No of Units : 1,000 apartments

Expected launch date : 2008


Keppel Land and SEDCO, the Saudi Economic and Development Co. Ltd are jointly developing luxury residences on a 3.6-ha site along the Corniche waterfront in Jeddah, Saudi Arabia. Keppel Land and SEDCO will hold 51:49 equity respectively in the joint venture.

Comprising three high-rise towers with a total of about 1,000 seafront apartments, the development will be undertaken in phases according to market demand. It will target the high-end market and is expected to be launched in 2008.

Located at the west coast of Saudi Arabia by the Red Sea, Jeddah, with a population of 3.4 million, is also the gateway to the two holy mosques of Makkah and Medinah.

The waterfront development is located at Al Nawras, which is part of the high-end North Corniche residential precinct, and enjoys 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 just a 15-minute drive away from the King Abdulaziz International Airport and a 10-minute drive from the luxury retail belt - Tahlia Street. It is also a 5-minute drive from the Red Sea Mall (a 240,000 sm shopping mall being developed by SEDCO and its other partners), which is poised to be the largest retail hub in Saudi Arabia when it is completed end 2007.
 

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ICONIC HIGHRISE DEVELOPMENT ON JEDDAH CORNICHE DESIGNED TO MEET DEMAND FOR LUXURY RESIDENCES

Landmark project signals entry of Singapore-based Keppel Land in the Saudi high-end real estate market

Jeddah, 11 October 2008: Jeddah's coastal skyline will undergo a dramatic transformation with the development of a premium site in the Al Nawras area of the Corniche.

The project is being developed by Keppel Al Numu, the recently formed joint venture between Singapore-based Keppel Land, one of Asia's leading property developers, and the Saudi Economic and Development Company (SEDCO).

The iconic 300-metre high waterfront development, consisting of two landmark residential towers with more than more than 900 luxury apartments, is 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.

Keppel Land is one of Asia's leading property developers and is internationally recognized for its award-winning premier residential developments and investment-grade offices.

Most recently, Keppel Land is the recipient of no less than 11 Euromoney Liquid Real Estate Awards 2008. Organized by Euromoney Liquid Real Estate magazine, a leading publication focused on international real estate financial markets, the Awards were based on a global survey of senior decision-makers in real estate banking, investment, development and advisory firms, as well as major corporate end-users in more than 50 countries worldwide. Keppel Land was also ranked among the Top Ten Asian companies in the prestigious Euromoney Award for Excellence in Real Estate 2006. The presence of an international property developer in the Kingdom's extremely competitive real estate sector is a boost to the market, which is seeing increasing demand for high-end luxury residential properties that combine innovative concepts of design and construction to provide homeowners with a premium lifestyle. Keppel Al Numu will soon unveil this exciting new project that will set new benchmarks for the highest standards of design, construction, and exterior and interior finishing.

Jeddah municipality has recently stated its intention of turning the Jeddah Corniche into one on the most beautiful seafront developments in the world and the strikingly iconic design of the Keppel Al Numu property will make a spectacular contribution to the transformation.

For more information contact:

Majd Sayyaf
TRACCS
Tel: +966 2 663 2525
Mob: +966 54 0099 195
Email: [email protected]

About Keppel Al Numu

Keppel Al Numu Development Limited is a joint venture company between Keppel Land Limited, one of Asia's premier property developers and the Saudi Economic and Development Company (SEDCO), a leading private wealth management organization in the Kingdom of Saudi Arabia.

About Keppel Land Limited

Keppel Land is the property arm of the Keppel Group, a Singapore-based multinational group with key businesses in offshore and marine, infrastructure and property, and a global customer base across 30 countries.

Geographically diversified across Asia, Keppel Land is a leading property developer globally recognized for its award-winning premier residential projects, investment-grade offices and integrated townships. It also aims to be a premier manager of property funds.

Keppel Land is also recognized for buildings that incorporate internationally-recognized best practices in environmental design and performance, taking into consideration energy and water efficiency, indoor environment quality, building management and environmental innovation.

About SEDCO

SEDCO, founded in 1976, is based in Jeddah, Saudi Arabia, and is today a major private Shari'ah compliant wealth management company with a wide and diversified spectrum of financial, real estate and direct investments in Saudi Arabia and around the world.

SEDCO does more than follow the tenets of Islam. It also sponsors academic research, symposia, and conferences on the development of markets and products for Muslim investors who seek to invest according to the Shari'ah codes. SEDCO also supports and participates in educational and research programmes at Harvard University and other institutions. SEDCO's co-sponsorship with Dow-Jones Indexes of the International Islamic Finance Forum held annually in Dubai, has come to be known as the "Davos" of Islamic finance.

The company is organized into three separately managed business groups, each of which is broadly diversified: the Real Estate Investment Group which manages a large and growing portfolio of real estate assets; the Financial Investment Group which works with the world's leading financial institutions in the development of a global market for Shari'ah compliant Islamic investment products; and the Direct Investment Group which manages SEDCO's private equity investments in the MENA region.
 
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