Media Centre

King Abdullah Economic City (KAEC) has announced the launch dates of apartments in phase one of the Al-Shurooq district. The apartments offered are conveniently priced for families and individuals who wish to enjoy a quality of life in an affordable and modern community, or for investors seeking to buy buildings to lease out. The launch events will take place at the Jeddah Hilton on December 20th & 21st and in Riyadh at Al Faisaliah Hotel on December 26th & 27th.
 
Commenting on the success of previous launch events offering residential properties and land plots in various neighborhoods in the Coastal Communities, Mr. Fahd Al-Rasheed, Group CEO and Managing Director of KAEC, said: “KAEC is moving forward at a fast pace and fulfilling its promise to offer residential properties for buyers in the high to mid-income price brackets. Now in Al-Shurooq we are making available affordable apartments in a vibrant community”. Al-Rasheed added:”Al-Shurooq Community is ideal for families and Individuals that aspire to home ownership with a smart economic solution providing modern accommodations with surrounding amenities catered specifically to their needs, as well as being a smart choice for investors.”
 
Adding his comments, Mr. Charles Biele, CEO of Real Estate Development Company (RED) in KAEC, said: “Al-Shurooq is located in close proximity to employment centers with prices starting from SR 199,888. The cluster based community is ideal for employees of companies operating in the port, Industrial Valley as well as in the commercial and retail businesses within KAEC. It is also a prime real estate opportunity for investors who wish to purchase entire buildings to lease out to companies and individuals in KAEC and take advantage of the high demand for rental apartments”.
He added:“To make the launch offering even more attractive, residents of Al-Shurooq will enjoy modern living within a friendly integrated neighborhood enhanced by green spaces, walkways, plenty of parking and with access to KAEC’s existing and future lifestyle amenities including a health clinic, schools, mosques, a community center, retail outlets and waterfront dining options.”
 
Al-Shurooq is a modern housing development of spacious 1 to 4 bedroom apartments covering 1.2 million sqm. Covering 150,000 sqm of land and containing approximately 1,440 housing units for rent or purchase, phase one of Al-Shurooq will be ready to welcome new residents in mid 2016.

As a development, Al-Shurooq has been designed to put people first with many parks and green spaces to enjoy while creating a safe and welcoming community. With several mosques, schools, nurseries and a lively community center, Al-Shurooq is an exciting and smart opportunity for residents living independently and young families who are looking to take the next step in home ownership, or for investors looking for an income producing asset with the potential for strong capital appreciation.
 
Buyers wishing to attend the Jeddah and Riyadh launch events should register by calling 800 11 800 10 or visiting www.Alshurooq.kaec.net.