As operations in Dubai have slowed, Emaar is counting on its master-planned communities in Saudi Arabia to take up some of the earnings slack. Earlier this month, Emaar Middle East showcased Jeddah Gate and Al Khobar Lakes, two of its integrated communities, at a Cityscape exhibition in the Saudi Arabian capital Riyadh.
Dr Dia Malaeb, Regional Chief Executive, Emaar Middle East, said, "Emaar Middle East is one of the pioneers in master-planned community development in the Kingdom." He estimated that Riyadh "would need over one million new homes by 2014 while overall demand is set to grow at an average 3.3 percent."
Jeddah Gate is a mixed-use project featuring residential units, commercial space, and 75,000 square meters of leasable area for retailers. Top-end retailers and food and beverage outlets will open near the residential towers. Abraj Al Hilal is a cluster of three high rise residential towers within Jeddah Gate.
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