Business | Property
Emaar Middle East unveils mega project in Saudi
Emaar Middle East (EME), a subsidiary of Emaar Properties PJSC focused on project development in the Middle East region, has rolled out the multi-billion dollar Al Khobar Lakes development with the launch of the first lakefront gated residential community, set amid 80,000 square metres of serene water-bodies within the mega project.
- Staff Report
- Published: 12:34 May 7, 2008
- Spanning 4.3 million square metres, the Al Khobar Lakes development can be accessed conveniently from two highways - the Dhahran-Beqaiq Highway and Abu Haidar Street.
- Image Credit: Supplied Picture
Dubai: Al Khobar Emaar Middle East (EME), a subsidiary of Emaar Properties, has rolled out the multi-billion dollar Al Khobar Lakes development with the launch of the first lakefront gated residential community, set amidst 80,000 square metres of serene water-bodies.
Spanning more than 4.3 million square metres, the new project will be developed in phases. Al Khobar Lakes features villas in a variety of elegant Arabic and Andalusian architectural styles.
Located in close proximity to Al Khobar City, Dhahran and Dammam, Al Khobar Lakes can be accessed conveniently from two highways, Dhahran-Beqaiq Highway and Abu Haidar Street, which connects to Bahrain, Al Khobar, Dammam and Riyadh.
Al Khobar Lakes is located 43 kilometres away from King Fahd International Airport.
The Eastern Province Municipality has recently approved the masterplan of the first phase, which alone has a development value of 4.6 billion Saudi riyals ($1.2 billion) and features more than 2,000 private villas in a series of nine villages with retail and leisure amenities.
With a total area of 2.6 million square metres, the first phase will have 11 mosques, educational complexes, a shopping centre, community centre, coffee shops and restaurants, healthcare facilities and other amenities.
"Al Khobar Lakes is one of the premier and major lakefront developments in Saudi Arabia," said Alaa Abdullah Saaed, chief executive officer, Emaar Middle East.
"Through the project, Emaar Middle East emphasises on providing total privacy to residents while offering the luxury of large open spaces aesthetically built around placid lakes."
One of the largest gated communities in the Eastern Province, Al Khobar Lakes offers detached and semi-detached villas designed to offer luxury accommodation for a range of tenant profiles.
Share this article
Gulf News classifieds
Popular in Business
Business Editor's choice
-
Tight security for air show
Police announce measures to keep people and property safe
-
Nokia aims for 300m customers by 2012
Core focus will be on messaging, maps and navigation, music and applications
-
Court orders freeze on all Saad assets
Many UAE banks exposed to troubled conglomerate
-
UAE
Abu Dhabi's infrastructure spending
New road networks to reignite construction sector.
