KING Abdullah Economic City (KAEC) will hold an exhibition of its latest units in the city's Al-Shurooq district on Oct. 6- 8, 2016 to be held at the Jeddah Hilton Hotel. Al-Shurooq is designed as a residential offering for families and individuals seeking affordable homes that fulfills their desire for a modern lifestyle. With prices starting from SR252,000, the community is specifically designed to provide residential properties that meet the needs of the middle income class and youth, who represent more than 70% of the Kingdom's population. It is also is a prime opportunity for parents seeking to help their children secure their first home or for career starters and newly married couples. "Home ownership is the foundation of long-term financial stability, and for many people, is a long term aspiration. The Al-Shurooq District opens up the opportunity for more people to bring their dream of home ownership closer to reality," said Fahd Al-Rasheed, Managing Director and GCEO of KAEC. "This development meets an important need for more affordable housing in the country and builds on KAEC's track record of bringing to market residential properties tailored for people from all walks of life." Featuring 1,440 apartments varying in size from one to four bedrooms the Al-Shurooq district is close to the city's amenities and services. Residents will have convenient access to the growing number of jobs available in the logistics and manufacturing hub at the Industrial Valley, which is already home to more than 120 local and international companies. "With rental costs for new properties increasing by as much as 30% in Jeddah alone, according to recent media reports, the cost of accommodation is becoming an increasing burden, especially for young people who are just starting their careers," said Charles Biele, CEO Residential Development at KAEC. "The combination of quality, affordable properties and proximity to the growing range of job opportunities in the Industrial Valley make Al Shurooq a compelling proposition for home buyers and an important addition to the KAEC residential offer." KAEC is currently developing a number of luxury sporting and recreational facilities, including the 18-hole championship golf course with a 7-star clubhouse and social club, for all members of the family.
