Emaar inks Al Khobar Lakes and Jeddah Gate deals

SEC wins power contracts, projects on course to open to residents by end-year
Emaar inks Al Khobar Lakes and Jeddah Gate deals
Jeddah Gate is a $1.6bn mixed-use project spread over 500,000 sq m in the city’s downtown area. (ITP Images)
By Ed Attwood
Sun 31 Oct 2010 10:36 AM

Emaar’s Saudi subsidiary, Emaar Middle East, has signed two power supply infrastructure deals with Saudi Electricity Company (SEC).

The contracts will cover two major communities that are scheduled to come online later this year.

Jeddah Gate is a $1.6bn mixed-use project spread over 500,000 sq m in the city’s downtown area.

Al Khobar Lakes is a lakefront development spread over 2.6m metres and will be one of Saudi Arabia’s largest gated communities when completed.

Emaar has described investor response to both projects as “overwhelming”.

SEC’s role in the contract will include the design and construction of the power infrastructure as well as the provision of temporary electricity cover both projects’ needs until two main substations are built.

“Through our agreement with Saudi Electricity Company, we will be able to provide seamless power supply for residents in our two communities – Jeddah Gate and Al Khobar Lakes,” said Ahmed Al Kulli, Emaar Middle East’s general manager.

“The agreements also highlight the rapid progress Emaar has made in the construction of our projects in Saudi Arabia, which are on schedule to welcome the first residents later this year.”

Emaar has declined to state the value of the two contracts.

Elsewhere in the kingdom, the developer is also building Emaar Residences at the Fairmont Makkah.

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