Emaar, The Economic City and Saudi Binladin Group sign contract to build the first residential facilities at King Abdullah Economic City

Dr Abdulraouf Al Mannaa, Managing Director, Emaar.E.C, and Eng Omar M. Binladin, President, Saudi Binladin Group, yesterday, signed the contract to build the first residential facilities at KAEC which will include 1,040 modern apartments with all supporting services and landscaping.

'KAEC is now on a dynamic development phase and we are finalizing the various contracts that would help us realize this mega-project, which ushers in a new era of economic prosperity for the Kingdom,' said Dr Al Mannaa. 'Saudi Binladin Group has proven expertise in projects that demand efficiency in terms of build quality and timely delivery. Our partnership also marks our commitment to the Kingdom to work with home-grown companies that can match any international company in terms of expertise and skills.'

Eng Omar Binladin added: 'KAEC is one of the largest private sector projects in the Kingdom of Saudi Arabia, and it is an honour to partner in this mega project. As a Saudi company, our association with KAEC also highlights our involvement in supporting the Kingdom's economic growth.'

KAEC sprawls over 168 million sq m and is located on the Red Sea coast. It has six key components - the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities.

'With this agreement, work will start on the first residential communities that overlook the Red Sea,' said Dr Al Mannaa. 'The six-storey buildings with secured parking will be set amidst elegant landscapes.'

Reflecting local architectural ethos, the buildings will have traditional Arabesque features that blend modern, luxury finishes that appeal to a discerning clientele. The apartments will be spacious with high ceilings, and all rooms have double-glazed windows for comfort, privacy and energy efficiency.

The homes will be fitted with home appliances such as washing machine, electric oven, hotplate, dishwasher and refrigerator. Bathrooms and kitchens have ceramic wall tiles and quality fixtures. Employing smart home technology, each apartment will be provided with hi-speed Internet connectivity and intercom door entry system.

The Residential Community will also have retail components and a range of amenities that appeal to residents including schools, promenades, health and fitness facilities, children's play area, barbecue areas and swimming pools.

Twenty-four hour security and maintenance, concierge facility, common area cleaning and landscaping and mobile security service will add to the comfort to living. An integral part of the community is a mosque with an open plaza, which is being designed to evoke traditional artistic aesthetics.

The KAEC Presentation Center and a 15 km access road have been completed earlier this year. Potential investors can have a feel of the model apartments at the Presentation Centre, and also register their interest. KAEC offers easy access to the two Holy Cities of Makkah and Madina and is also close to Jeddah.