KING ABDULLAH ECONOMIC CITY — Following the hugely successful sales of land plots in Al-Talah Gardens phase 1 and 2, King Abdullah Economic City (KAEC) launched the third phase of the residential project at Jeddah Hilton Hotel on Dec. 15-16. “The new residential land plots offered in Al-Talah Gardens phase 3 district are meant to meet the housing needs of the low and mid income sections of the Saudi community at competitive prices,” said Fahd Al-Rasheed, managing director and CEO of KAEC. “Today we are announcing the launch of Al-Talah Gardens phase 3 with the same degree of credibility and transparency experienced by current land owners. The city is constantly growing and witnessing an increasing interest in real estate and residential projects from investors and tenants in the city as well as from neighboring areas such as Petro Rabigh, King Abdullah University of Science and Technology (KAUST), in addition to KAEC employees.” Located at the heart of KAEC, Al-Talah Gardens has a total area of more than 1.100 million square meters, which will be fully serviced with infrastructure and amenities, including water networks, sewage systems, telecommunication network, safety, security, drainage network, electricity and lighting. Al-Talah over looks two main roads; it offers a crescent park stretching nearly 1 km in length in the heart of Al-Talah Gardens district. The park also features walking and bicycle paths that meander through a naturally shaded garden landscape that connects people directly to the neighborhood center. King Abdullah Economic City is one of the largest and most important private sector initiatives in the Middle East, encompassing a total area of 168 million square meters along the coast of the Red Sea. Through its industrial valley, KAEC has succeeded in attracting more than 60 national and international industrial companies. Strategically located and with its own seaport, KAEC offers a wide range of housing solutions that are suitably priced for different income levels. The KAEC residential districts are supported by high quality infrastructure and a complete range of services and facilities such as The World Academy School, which is already open with a future capacity of 2,250 students, and a medical center for primary care and emergency operated by Dr. Soliman Fakeeh Hospital Company. In addition, retail stores have been fully leased and restaurants, cafes, sales outlets and pharmacies are already open.
