Emaar Middle East announced on Monday an unprecedented opportunity to reside at Emaar Residences in the Holy City of Makkah. Occupying the 30th floor to the 53th floor of the Fairmont Makkah, the Emaar Residences are elegantly furnished and superbly serviced residences which is located directly on the Haram Plaza, offering residents unparalleled views of the Holy Kaaba and Haram. Alaa A. Saed, chief executive officer, Emaar Middle East, said the prices “are very competitive” though refraining from citing any figure. At a press conference on Monday, he said Emaar remains committed to its customers despite the global economic downturn. He underscored that Emaar's projects were not at all affected by the slowdown brought about by the financial crisis, saying that, in particular, the Jeddah Gate and the Al-Khobar Lakes projects are in full swing. He further said the Emaar Residences would be ready for occupancy by next year. He said it is now open for lease for a maximum period of 25 years, after which, it will be returned to the King Abdul Aziz Endowment. He added that the lessee is entitled to lease as many units he could and may even sublease them also. The studio- and one-, two-, and three-bedroom homes are located in Makkah Clock Royal Tower, a Fairmont Hotel, which is the tallest tower within Abraj Al Bait, a cluster of seven elegant high-rises developed as part of the King Abdul Aziz Endowment of The Two Holy Mosques. An architectural landmark, The Makkah Clock Royal Tower, a Fairmont Hotel is developed by Saudi Bin Laden Group and rises to a height of 577 meters. Emaar Residences at the Fairmont Makkah are located in the upper-most floors of the hotel thus offering residents the fulfilling experience of viewing the Holy Kaaba from their homes. Issam Galadari, managing director, Emaar International, said: “All aspects of the Emaar Residences at the Fairmont Makkah have been developed with the spiritual mindset of pilgrims to the Holy City of Makkah. Designed with comfort in mind and developed to the highest quality standards of Emaar, the homes have direct views of the Holy Kaaba and Haram, making them a perfect home during the pilgrimage.” Residents will have easy access to the Islamic Studies Authority and the King Abdullah Science Center as well as the Lunar Observation Center and Islamic Museum, which showcases the region's heritage for future generations, in Abraj Al Bait. Another highlight is the 40-meter clock - five times larger than London's Big Ben - announcing daily prayer timings. The shopping mall, restaurants, and modern medical centre located within the Abraj Al Bait complex will satisfy every-day necessities while residents in Emaar Residences at the Fairmont Makkah will also benefit from a dedicated floor for prayer, gymnasium, business amenities, preferential access to a range of dining outlets, and conference & banqueting facilities within the hotel. Elegantly furnished, the homes range in size from 40 sq m for a thoughtfully designed studio to 160 sq m for a comfortable three-bedroom residence, and will be offered on a leasehold basis. The serviced residences will be managed by luxury global hospitality operator Fairmont Hotels & Resorts through an exclusive agreement with Emaar. In a statement, Thomas W. Storey, president, Fairmont Hotels & Resorts, said: “As official service providers Fairmont draws from over a century of hospitality experience, ensuring the delivery of our exceptional brand of housekeeping, maintenance, concierge, bell, valet, security and owner's services to residents.” Residents will have access to the Owner's Club with a lounge area and business centre, and also receive the Fairmont Residential Benefits including an array of privileges at every Fairmont Hotels & Resorts destination. Through the Fairmont Rental Program, customers can also rent out their homes on a fixed term basis with the option for automatic renewal. Emaar has several development projects in Saudi Arabia. among them the King Abdullah Economic City, the single largest private sector development in the Kingdom. __
