Dr. Ahmed Al Kulli,
CEO of Emaar Middle East
Emaar Properties, although a relative newcomer in the Saudi real estate market, is by no means an unknown in the sector, region and even worldwide. Projects as the Burj Khalifa (Burj Dubai) – the highest tower in the world, the Dubai Mall – the largest mall in the world, or Emirates Hills – the most exclusive and luxurious estate of the UAE - illustrate the company's motto: 'Everything we do is the biggest in the world'. Emaar Properties, which survived the Dubai real estate bust by diversifying in timely fashion into retail, financial services, hospitality and even education and health care, only came to the KSA in 2005.
Headquartered in Dubai, the company's Saudi Arabian branch is led by Ahmed Al Kulli, CEO of Emaar Middle East. “Emaar Middle East (EME) is one of the subsidiaries of Emaar
Properties registered in Saudi Arabia as a limited liability. It is a strategic joint venture established between two large regional real estate players in the Kingdom and in the UAE, Al Oula Real
Estate Development Company KSA with 39 percent and Emaar with 61 percent respectively,” explains Al Kulli.
Since its inception in the market, Emaar Middle East has been working in three big projects in three prestigious locations on what they call 'affordable luxury'. As the first
to introduce in the kingdom the concept of gated communities and master planning their three projects are the Jeddah Gate (SR 6
billion), Khobar Lakes (SR 4.6 billion) and Emaar Residences at the Fairmont Makkah.
“We are introducing to the Saudi market huge master planned projects and developing massive real estate land with all elements that people need. A mixed-use development where
you can find leisure, residential units, commercial spaces, offices and community amenities,” says the newly appointed EME´s CEO.
Emaar master planned communities rang from high to mid rise developments but they are all located in expensive locations, notably the Makkah Residences which overlook the
Holy Mosque but also the Jeddah Gate project or the villas of Khobar lakes built in a landscaped area comprising artificial lakes and golf courses “making the desert bloom” in the city of Al Khobar,
“We are about to finalise the infrastructure for Jeddah Gates and the first complex, A4 project Hilal part of Jeddah Gate. If you go to Khobar it is almost the same. We have started the process of handing over and have invited some of our clients to come and inspect their houses prior to the final handover. This experience –underlines Al Kulli- will spread the word of mouth of seeing something real, tangible. The market, he says, was used to a lot of bad experiences and there are few developers in the region that can deliver Emaar quality and style.”
Our latest investment report on Kuwait was recently published in one of the leading Spanish dailies, ABC. FindMe in Kuwait explores the economic perspectives of Kuwait and the country´s future plans to compete with its fast developing neighbours. Once the leading country of the Gulf, Kuwait has remained silent for the past decade. And although many would like to see faster changes, Kuwait is moving, at its pace, to them. Inexorably. Learn about who is who in Kuwait and read what the leaders say about their own future in our upcoming release: FindMe in Kuwait Mobile app.
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Global Gulf Consulting has concluded its latest production on Bahrain, FindMe in Bahrain giving the country a fresh approach after a couple of difficult years of local demonstrations that matched the global recession. Bahrain is a small island in the Arabian Gulf with an incredible potential for logistics, industries and tourism. FindMe in Bahrain was supported by both the public and private sector of Bahrain. Banagas, Nass Corporation, BBK and DHL were GGC strategic partners in the development of the series among others.
FindMe in Bahrain is available at the local bookstores Jashamal and online as well as in the Apple Store. It is a full business leisure and business guide for any investor or visitor interested in traveling to Bahrain or for those that already live there.
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In contains general information about the country´ economic performance and who is who as a sectorial overview and a leisure guide.
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