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On the western front.

Asia Africa Intelligence Wire

| May 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Gulf Construction)

A Saudi real estate developer is spearheading major projects in Jeddah including a business park and an 'oasis' town, that are aimed to create distinctive communities along the Red Sea coast. A waterside village, a multi-functional business park and a 20-storey office tower are among the diverse projects that are being developed by Sredco (Saudi Real Estate Development Company), a Jeddah-based specialised and professional real estate group and a wholly-owned subsidiary of Alesayi Group of Companies

The company is creating the 1 million sq m Jeddah South Corniche, a waterside development along the coast at the South Cornice Road. It is located some 40 km south of Jeddah and can be accessed from the new Jeddah to Jizan highway

The project involves land forming around natural lagoons, which will provide access to the Red Sea for the development of residential, commercial and recreational components

"The objective is to create a village or a small-town 'oasis' environment with sufficient facilities to attract and stimulate private residential development, supported by attractive public recreational and commercial amenities to serve both residents and visitors," says John Alexander, business development consultant for Sredco. "The public areas will appeal to all visitors, but special emphasis will be on families with children. A hotel and marina will be at the heart of the commercial area," he adds

The Business Village includes commercial and office elements that will be developed on a 34,000 sq m plot overlooking the Red Sea coast and the Jeddah Islamic Port. Erga, an architectural practice based in Beirut, Lebanon, has been selected to design the project, which will be located next to the new Jeddah Municipality headquarters building. Construction work on the development - which will boast a number of glass-clad high-rises ...

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