Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Ewaans Participation in Restatex Highlights Expansion into Riyadh Residential Real Estate Market  Join our daily free Newsletter

MENAFN Press - 29/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) Ewaan Global Residential Company, one of the leading real estate development companies in the Kingdom of Saudi Arabia, is Gold Sponsor of the Riyadh Real Estate, Housing and Urban Development Exhibition (RESTATEX) which will be held April 27 “ 30, 2014 at Riyadh International Convention and Exhibition Center.

At RESTATEX, Ewaan will showcase its flagship project Alfareeda, the hugely successful real estate development project in the north of Jeddah, and its latest project Almayaar located adjacent to Alfareeda. In addition the company is announcing its expansion into the Riyadh market.

Commenting, Mr. Riyadh Al Thagafi, CEO of Ewaan Global Residential Company, said: "We are delighted to be participating in RESTATEX as Gold Sponsor and look forward to connecting with customers and welcoming them to our booth where they will learn about the tremendous advances we have made in raising the level of residential real estate development in the kingdom to the highest international standards.

"Following the success of Alfareeda we are now expanding our development activities to Riyadh where we see a promising market with great potential and where we have already acquired a land on which to build residential units which will be announced later on"

"The main challenge facing Ewaan and any developer is to structure the right product for the right price, while another issue facing real estate companies is the availability of skilled labor and increasing costs," added Al Thagafi. "Keeping prices affordable is the key to success and I can confidently say that Ewaan has achieved this at Alfareeda where we have exceeded the owners' highest expectations in the quality of the construction and finishing, while fulfilling our promise to deliver affordable housing supported by a world class infrastructure and service facilities in an idyllic setting of tranquility and beauty."

A model of modern town planning, Alfareeda, the largest residential project in the kingdom, has been specifically designed to create an elevated lifestyle environment for the middle income class in response to the call of the Custodian of the Two Holy Mosques and his government for the private sector to play a leading role in meeting the ever growing demand for affordable home ownership by Saudi citizens. Following the great success of Alfareeda in Jeddah and growing expertise the company gained from the project, Ewaan is planning to launch a similar mega residential project in Riyadh.

Alfareeda is being developed phase by phase, with each phase a sellout as soon as the units go on the market. The first three phases comprising of 1,200 units have been sold out. Construction work in Phase One is more than 80% complete including infrastructure facilities such as roads, lights, water treatment plant, power station and mosque. The first residential units are currently in the process of hand over, while the community center designs are now finalized and work will commence very soon.

Phase four, the final stage of Alfareeda comprising of 500 units, will be launched later this year.

Ewaan's second project north of Jeddah is Almayaar, which will be constructed on a site next to Alfareeda and is designed to offer alternative affordable residential apartments for small families. The master plan for Almayaar is now ready after going through a series of improvements increasing the green areas in the project for a modern lifestyle living. The project will be launched soon.

Now in its 16th year, the Riyadh Real Estate, Housing & Urban Development Exhibition & Forum is the largest annual real estate event for investors and buyers in Saudi Arabia and expects to receive 50,000 visitors. The event is under official patronage represented by the Ministry of Housing and the Ministry of Industry and Trade. In addition, RESTATEX includes official participation by the Riyadh Development Authority and Riyadh Municipality, while Riyadh Chamber of Commerce and Industry is a strategic partner.


About Ewaan
Ewaan Global Residential Company, owner of Alfareeda residential project, is a leading real estate developer established through the strategic partnership of some of the region's strongest financial and development institutions including the Islamic Corporation for Private Sector Development (ICD), which is affiliated to the Islamic Development Bank

 


MENAFN Press




  MENA News Headlines
 Oct 31 2014 - Saudi Arabia's Sedco Capital eyes $300m Europe real estate dealThe Peninsula
(MENAFN - The Peninsula)  Jeddah-based Islamic investment firm Sedco Capital plans to arrange a club investment of up to $300 million in European real estate, and will soon distribute its Luxembourg ...

 Oct 31 2014 - Qatar Exchange index falls on heavy sell-offThe Peninsula
(MENAFN - The Peninsula)  Qatari stocks plunged on heavy profit-taking yesterday, a day after Federal Reserve announced its decision to wound up its over five-year-long quantitative easing stimulus ...

 Oct 31 2014 - Kuwait prioritizes protection of human rights - EnvoyKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  The State of Kuwait on Thursday reaffirmed respect for human rights out of belief in their crucial role in the achievement of sustainable development.The Kuwaiti ...

 Oct 31 2014 - Kuwait welcomes Sweden's recognition of Palestinian statehoodKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Kuwait welcomes Sweden's decision to recognize Palestine as an independent state, a senior Foreign Ministry source said on Thursday.The decision comes in line ...

 Oct 31 2014 - Ban condemns Sudan hostilitiesKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  UN Secretary General Ban Ki-moon strongly condemned the resumption of hostilities between the Sudan People's Liberation Army (SPLA) and Opposition forces in ...

 Oct 31 2014 - US, Israeli officials discuss ISIL, IranKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  Senior US officials working on the Obama Administration's counterterrorism strategy met with their Israeli counterparts on Thursday for the semi-annual meeting ...

 Oct 31 2014 - Kuwaiti Speaker condemns Israeli closing of Aqsa MosqueKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  We condemn the unjustly Israeli act of closing the Holy Aqsa Mosque in the face of worshippers, Kuwait's National Assembly Speaker and Chairman of the Arab ...

 Oct 31 2014 - S. Korean Pres. calls for more economic ties with Saudi ArabiaKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  South Korean President Park Geun-hye on Friday called for expanding economic ties with Saudi Arabia, saying the two countries should seek exchanges in new areas ...

 Oct 31 2014 - EU condemns ISIL atrocities in IraqKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))  The EU Friday expressed condolences to the families of the tribesmen who were killed in recent ISIL atrocities in the Anbar province, as well as to the families ...

 Oct 31 2014 - OPEC basket price down by 45 cents to USD 82.79 pbKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA))   OPEC daily basket price stood at USD 82.79 a barrel Thursday compared with USD 83.24 the previous day, the cartel said on Friday.The annual rate of the OPEC ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help