Following the overwhelming investor response to the first residential village in its Al- Khobar Lakes master-project, Emaar Middle East is launching the second residential village - Al Ghadeer Village - ahead of schedule. Customers who have reserved their units during the launch of Al Nada Village must confirm their purchase of homes in Al-Ghadeer on June 16. New sales reservations and expressions of interest for homes within the upcoming Al-Khobar Lakes residential villages will start from June 18. Al-Ghadeer Village is located on the northeast side of the project, and is spread over an area of over 231,891 sq m. It will feature 226 residential units in sizes ranging from 107 to 617 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. Al-Ghadeer also features green and open spaces that sprawl over 11,100 sq m, and the community is anchored by a lake of area 14,800 sq m. Residents can access project amenities that include mosques, educational complexes, a shopping center, community centre, coffee shops & restaurants, healthcare facilities and other amenities. Emaar Middle East is the business subsidiary of Emaar Properties PJSC, and is developing two master-planned communities in Saudi Arabia - Al- Khobar Lakes and Jeddah Gate. Emaar Middle East had previously launched Al-Nada Village, the first residential community in Al-Khobar Lakes, to overwhelming response where all units offered were sold in the first few hours. Engineer Alaa Saed, chief executive officer, Emaar Middle East, said: “The investor response to the first residential village in Al-Khobar Lakes has been phenomenal and highlights the world-class standards Emaar is bringing to the project. To meet the overwhelming customer interest, we are now launching the second village - Al-Ghadeer - ahead of schedule.” He added: “We thank all customers for their interest in Al-Khobar Lakes and we are currently in the process of awarding the final contracts to begin construction of both Al-Nada Village and Al-Ghadeer Village soon. The construction will be accelerated to ensure delivery of homes ahead of schedule before the end of 2010.” The first phase of Al-Khobar Lakes project sprawls over an area of 2.6 million sq m and has a development value of SR4.6 billion ($1.2 billion). __
