22/06/2011
King Abdullah Economic City to launch new phase of Al-Talah Gardens project
King Abdullah Economic City (KAEC) recently announced the sale in record time of all lands in phase one of Al-Talah Gardens project launched here recently.
The lands sold out within four hours on the first day of the exhibition, as a huge number of citizens visited the event, the company stated.
KAEC also announced that the second phase of the project would be launched soon to meet the need of the middle-income segment of the society, which is the largest in Saudi Arabia, for residential land plots at “affordable” prices.
This project comes in line with the vision of Custodian of the Two Holy Mosques King Abdullah to provide Saudis with housing at competitive prices in an integrated residential environment that meet their needs and aspirations.
Fahd Al-Rasheed, managing director and CEO of KAEC, expressed his happiness with the success of Al-Talah Gardens in attracting the large segment of the society.
According to him, “the great success of phase one of the Al-Talah Gardens project, in which all units were sold in record time, assures the progress of development at KAEC, and signifies a new achievement to the overall success of the city in filling the increasing need for housing.”
Al Rasheed pointed out that the project offers land plots that are very competitive at SR500-700 per square meter compared to prices of other lands in Jeddah.
This gives the opportunity to various members of the society to buy and own land plots, some of whom are employees at Petro Rabigh, King Abdullah University for Science and Technology (KAUST) and KAEC, in addition to families from Makkah and Jeddah.
“Many of the buyers were excited with the many gardens and the one kilometer walkway surrounded with trees and palms, providing a meeting point for all members of Al-Talah Gardens community,” he added.
The one kilometer walkway will allow families to enjoy walking, playing and relaxing in the outdoors surrounded by trees, playground facilities and retail outlets.
According to the plan, the purchaser can buy up to two land plots within the project so that other buyers will have equal opportunities.
Al Rasheed highlighted that the project aims to provide housing solutions to citizens rather than business investors, ensuring that the project offers an optimum environment in terms of price, location, infrastructure and services.
Moreover, Al-Rasheed said: “The remarkable success of the project in its first stage assures our customers of our readiness to launch new phases, which will be announced soon, noting that there are a large number of citizens who expressed their desire to reserve land plots in the second phase.” KAEC still allows the possibility of booking through the call center service.
Located at the heart of KAEC, Talah Gardens is spread over 500,000 square meters. It overlooks three main roads from the west, east and south, with nearby entertainment, services and dining areas that command a fascinating waterfront view.
The project enjoys a highly engineered infrastructure and leading edge amenities, including drainage, sewage systems, water and electricity supply, telecommunications and Internet network, in addition to safety and security systems.
When completed, Al-Talah Gardens will also have integrated facilities such as mosques, schools, medical services, advanced health & fitness facilities, events hall and shopping malls at walking distance.
The project will enable residents identify a new approach to modern living.
