Emaar Middle East (EME), a subsidiary of Emaar Properties PJSC focused on project development in the Middle East region, has rolled out the multibillion dollar Al-Khobar Lakes development with the launch of the first lakefront gated residential community, set amid 80,000 sq m of serene water-bodies, within the mega project. Spanning over a total area of 4.3 million sq m to be developed in phases, Al-Khobar Lakes features villas in a variety of elegant Arabic and Andalusian architectural styles. Located in close proximity to Al-Khobar City, Dhahran and Dammam, Al-Khobar Lakes can be accessed conveniently from two highways, Dhahran-Beqaiq Highway and Abu Haidar Street which connects to Bahrain, Al-Khobar, Dammam and Riyadh. Al-Khobar Lakes is only 43 km from King Fahd International Airport. The Eastern Province Municipality has recently approved the master plan of the first phase, which alone has a development value of SR4.6 billion ($1.2 billion) and features more than 2,000 private villas in a series of nine villages with retail and leisure amenities that are perfect for family living. With a total area of 2.6 million sq m, the first phase will have 11 mosques including a grand mosque for Friday prayers, educational complexes spanning over 28,000 sq m, a shopping center, community centre, coffee shops & restaurants, healthcare facilities and other amenities. “Al-Khobar Lakes is one of the premier and major lakefront developments in Saudi Arabia,” said Alaa Abdullah Saed, chief executive officer, Emaar Middle East. “Through the project, Emaar Middle East emphasizes on providing total privacy to residents while offering the luxury of large open spaces aesthetically built around placid lakes.” One of the largest gated communities in the Eastern Province, Al-Khobar Lakes offers stylish detached and semi-detached villas designed to offer luxury accommodation for a range of tenant profiles. The three- to six-bedroom villas are built on plots that vary in sizes, and are perfectly suited for Saudi and GCC families. Each village in the first phase will have its own parks and other leisure amenities that add to the quality of living. The villas feature warm, natural stone colors and inspired by subtle, earthly tones. The community centre will be a focal point for social interaction and will feature a recreation club, swimming pools, nursery/kindergarten, convenience retail, public area, and food & beverage outlets. The retail centre is located on an area of 110,000 sq m and will be an upscale shopping and leisure destination offering general merchandise, convenience stores and fashion outlets for residents and visitors as well. “Al-Khobar Lakes fills the need for single family villas that are much sought after by the upwardly mobile Saudis who want a suburban lifestyle with all modern amenities,” Saed further said. “This also marks a subtle shift in homeowner preferences in Saudi Arabia and the GCC.” EME has already launched Jeddah Gate, the SR6 billion ($1.6 billion) mixed-use project spread over half a million sq m. Emaar's expansion to Saudi Arabia is in line with its Vision 2010 to become one of the most valuable companies through geographic expansion and business segmentation. Emaar Properties PJSC is one of the world's largest real estate companies and is rapidly evolving to become a global provider of premier lifestyles. Powered by its Vision 2010 to become one of the most valuable companies in the world, Emaar is charting a new course of growth with a two-pronged strategy of geographical expansion and business segmentation. Emaar has highlighted its remarkable global growth by debuting on the Financial Times Global 500 ranking. __
