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Friday, November 13 - 2009

HRH Prince Mohammed Bin Fahad Bin AbdulAziz Al Saud breaks ground on Al Khobar Lakes

His Royal Highness Prince Mohammed Bin Fahad Bin AbdulAziz Al Saud, Governor of Eastern Province, broke ground on Al Khobar Lakes, a multibillion dollar master-planned community developed by Emaar Middle East.

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  • Eng Alaa Saed demonstrates the master plan as he gives an overview of the project.
    Eng Alaa Saed demonstrates the master plan as he gives an overview of the project.
HRH Prince Mohammed toured the project site and expressed confidence that the project will contribute to the socio-economic growth of the region.

HRH Prince Mohammed was welcomed by the company Board Members, Eng. Alaa Abdullah Saed, Chief Executive Officer, Emaar Middle East, and senior managers of the company.

Senior government officials and other dignitaries attended the high-profile event that marks the construction of the largest gated community in Eastern Province.

Mr Saed said:

"Led by the visionary leadership of The Custodian of the Two Holy Mosques King Abdullah Bin AbdulAziz AlSaud, Saudi Arabia has made rapid strides in overall economic growth and is now one of the most competitive economies in the world. The Kingdom offers a strong platform for investments in property and other high-growth sectors. Emaar Middle East is thankful to His Royal Highness Prince Mohammed Bin Fahad Bin AbdulAziz Al Saud for breaking ground on this prestigious development that will usher in a new lifestyle to the Eastern Province."


He added:

"Al Khobar Lakes is the first lakefront gated community and the largest in the region, and will contribute to the socio-economic prosperity by creating new job opportunities for the local population. The various components of the project will also support local industries and the service sector in general."


Al Khobar Lakes is a 4.3 million sq m development and features 80,000 sq m of serene water bodies.

The first phase of the project has a development value of SR4.6bn ($1.2bn) and has over 2,000 private villas in a series of nine villages with retail and leisure amenities. Spread over 2.6 million sq m, the first phase will have 11 mosques including a Grand Mosque for Friday Prayers, educational complexes, a shopping centre, community centre, coffee shops & restaurants, healthcare facilities and other amenities.

Eng Saed said:

"Al Khobar Lakes has received overwhelming response from private home buyers and investors around Saudi Arabia. The launch of the first residential village in the first phase was a sell-out success, and we have launched the second village - Al Ghadeer - ahead of schedule. Al Ghadeer is located on the north-east side of the project with an area of 231,891 sq m and will feature 226 residential units in sizes ranging from 407 to 617 sq m."


He added: "Al Khobar Lakes is a path-breaking development initiative for the real estate sector of the Kingdom, and its unique location makes it a connecting point to the major cities in the Eastern Province. The success of the project is God's will and we thank all our stakeholders for their support and trust in us."
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Notes and media contacts

Al Khobar Lakes developed by Emaar Middle East, is a luxury lakefront development set over 4.3 million sq metres. With a development value of SR4.6bn ($1.2bn), the first phase of the development covers a total area of 2.6 million sq m and features 80,000 sq m of serene water bodies. Al Khobar Lakes is one of the premier lakefront developments and the largest integrated community in the Kingdom of Saudi Arabia.

Al Khobar Lakes is only 43 km from King Fahd International Airport and is located in close proximity to Al Khobar City, Dhahran and Dammam. It can be accessed conveniently from two main highways, Dhahran-Beqaiq Highway and Abu Hadria Street which connects to Bahrain, Al Khobar, Dammam and Riyadh.

The first phase features more than 2,000 private villas with retail and leisure amenities that are perfect for family living. It also features 11 mosques including a Grand Mosque for Friday Prayers, educational complexes spanning over 28,000 sq m, a shopping centre, a community centre, coffee shops & restaurants, healthcare facilities and other amenities. The community centre has a recreation club, swimming pools, nursery/kindergarten, convenience retail, public area, and food & beverage outlets. The retail centre covers an area of 110,000 sq m and will be an upscale shopping and leisure destination.

Emaar Middle East has already launched Al Nada Village, the first of the nine villages within Al Khobar Lakes development. It covers an area of 250,000 sq m and features 242 villas. Customers can choose from 16 villa types designed in two architectural styles - Arabic and Andalusian. The villas have been carefully distributed throughout the Village to provide residents with privacy and stunning views. In addition, residents will have direct access to the large lake that covers 13,000 sq m. The Village also includes 2 mosques and a wide area of greenery and private gardens. Al Nada Village is expected to be completed by the end of 2010.

Following the overwhelming investor response to Al Nada Village, Emaar Middle East has launched the second residential village - Al Ghadeer Village. Located on the north-east side of the project and spread over an area of over 231,891 sq m, Al Ghadeer Village will feature 226 residential units in sizes ranging from 407 to 617 sq m, green and open spaces that sprawl over 11,100 sq m and a lake spanning over an area of 14,800 sq m. All the villas have private fences to heighten the privacy of residents, and a well-knitted street system connects the villas through pedestrian walkways.

Bashar Kharbat / Saleh AlHamamy
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196

Nivine William / Kelly Home
ASDA'A Public Relations
Dubai, UAE
Tel: (+971 4) 334 4550

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