{"id":13954,"date":"2016-05-22T23:02:04","date_gmt":"2016-05-22T16:02:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=13954"},"modified":"2016-05-22T21:10:31","modified_gmt":"2016-05-22T14:10:31","slug":"arabian-construction-to-build-three-tower-emaar-residences-project-at-jeddah-gate","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabian-construction-to-build-three-tower-emaar-residences-project-at-jeddah-gate\/","title":{"rendered":"Arabian Construction to build three-tower Emaar Residences project at Jeddah Gate"},"content":{"rendered":"


\nEmaar Middle East, the Saudi Arabian development arm of Emaar Properties, has appointed Arabian Construction Company (ACC) to build three residential towers at its Jeddah Gate project.The high-rise towers will contain a total of 283 apartments, including a number of penthouses. The one to four-bedroom units range in size from 70 to 300 square metres, and each tower will have dedicated drop-off zones, lobbies, a 24-hour reception and concierge service. There are also pool areas, fitness centres, a ladies’ spa, children’s day care area and a multipurpose hall.Emaar Residences is the third residential project the developer has launched at Jeddah Gate – a 413,000-square-metre master-planned community that also contains retail and leisure space around a central development known as Emaar Square. Sales for Emaar Residences began last November, and drilling work at the site is already under way. ACC has worked on a number of Emaar projects, and the contractor has recently been awarded a deal to build the 63-storey Boulevard Point project by the developer in Downtown Dubai. It has also just received an International Safety Award from the British Safety Council for its work on Emaar’s Fountain Views and Sky Views projects, where it has achieved 10 million man hours on both projects without a serious accident.ACC is a pan-Arabian contractor whose GCC headquarters are based in Abu Dhabi. It is already working on Jeddah Gate, where it is building Emaar Square commercial district under a Dh174 million contract that began two years ago. It is expected to be handed over later this year.A spokesman for Emaar Middle East said: “We are bringing the same world-class standards that Emaar is renowned for with ‘Emaar Residences’. ACC has strong competencies in developing large-scale projects as per schedule and understand the high benchmarks that we have set.”Earlier this month, JLL reported that Jeddah’s residential market underwent a slowdown during the first three months of this year, with sale prices dropping by 5.4 per cent and rents by 2.5 per cent. The drop in sales was blamed on continuing weak demand following rules that were introduced by the Saudi Arabian Monetary Agency in November 2014, which stated that banks could only lend buyers a maximum of 70 per cent of a home’s value. This measure was relaxed at the end of January to 85 per cent, meaning the amount homebuyers need for a deposit has effectively halved to 15 per cent of a property’s value, from 30 per cent. JLL described this move as “a positive step towards increasing access to home loans [that] is expected to stimulate demand” in the market.Following the launch of Emaar Residences, Jamil Ghaznawi, the country head of JLL’s Saudi Arabian operations, said it was “interesting to see that higher quality residential developments are being launched in response to buyer demand for additional amenities”.mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Arabian Construction to build three-tower Emaar Residences project at Jeddah Gate<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar Middle East, the Saudi Arabian development arm of Emaar Properties, has appointed Arabian Construction...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-13954","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3D4","jetpack-related-posts":[{"id":17804,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mashreq-appoints-acc-to-build-new-downtown-dubai-headquarters\/","url_meta":{"origin":13954,"position":0},"title":"Mashreq appoints ACC to build new Downtown Dubai headquarters","date":"June 27, 2016","format":false,"excerpt":"\r The Dubai-based bank Mashreq has appointed Arabian Construction Company (ACC) to build its new headquarters building in Downtown Dubai.Mashreq will relocate from its current base near the Al Ghurair Centre in Deira to the new site at the junction of Financial Centre Road and Mohammed Bin Rashid Boulevard once\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27253,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-build-twin-towered-hotel-and-residential-project-at-dubais-jbr\/","url_meta":{"origin":13954,"position":1},"title":"Emaar to build twin-towered hotel and residential project at Dubai's JBR","date":"September 26, 2016","format":false,"excerpt":"\r Emaar Properties plans to build its first beachfront hotel project in Dubai \u2014 The Address Jumeirah Resort and Spa at Jumeirah Beach Residences (JBR).The company said that the resort will contain a pair of 74-storey towers at the end of Dubai Marina, with 100 metres of beachfront looking out\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1377,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-starts-work-on-dubai-creek-residences\/","url_meta":{"origin":13954,"position":2},"title":"Emaar starts work on Dubai Creek Residences","date":"January 13, 2016","format":false,"excerpt":"\r \r Emaar Properties says it has commenced work on its Dubai Creek Residences project in Dubai Creek Harbour.The Dubai developer has awarded the construction contract for the project to Al Basti & Muktha, which has previously worked on developments that include the Old Town District of Downtown Dubai.Dubai Creek\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52750,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-hospitality-group-unveils-six-new-hotels\/","url_meta":{"origin":13954,"position":3},"title":"Emaar Hospitality Group unveils six new hotels","date":"April 24, 2017","format":false,"excerpt":"\r Emaar Hospitality Group, the hospitality and leisure arm of Emaar Properties, unveiled six new hotels as part of its regional and international expansion at Arabian Travel Market (ATM) in Dubai. The expansion will come across Emaar's three hotel brands, the premium Address hotel and resorts, the upscale Vida Hotels\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-open-35-new-hotels\/","url_meta":{"origin":13954,"position":4},"title":"Emaar to open 35 new hotels","date":"April 25, 2016","format":false,"excerpt":"\r Dubai's Emaar Hospitality Group expects to open 35 hotels and serviced residences within about five years as it expands at home and abroad. The new hotels will encompass its luxury Address Hotels and Resorts brand and the upscale Vida Hotels and Resorts as well as the midscale Rove Hotels.They\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11344,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-open-35-new-hotels-in-next-five-years\/","url_meta":{"origin":13954,"position":5},"title":"Emaar to open 35 new hotels in next five years","date":"April 25, 2016","format":false,"excerpt":"\r Dubai's Emaar Hospitality Group expects to open 35 hotels and serviced residences within about five years as it expands at home and abroad. The new hotels will encompass its luxury Address Hotels and Resorts brand and the upscale Vida Hotels and Resorts as well as the midscale Rove Hotels.They\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13954"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=13954"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13954\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=13954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=13954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=13954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}