Media Centre

The latest news and images from KAEC

back to all Press Releases
05May2019 482

KING ABDULLAH ECONOMIC CITY EXHIBITS AZALEA RESIDENTIAL VILLAS COMMUNITY

WITH 10 YEARS FLEXIBLE PAYMENT PLANS AND NO PROFIT MARGIN

KING ABDULLAH ECONOMIC CITY, 22 April, 2019:

King Abdullah Economic City (KAEC) has announced the launch of the new upscale Azalea residential villas community, offered with a 10 year payment plan with no profit margins, only with a 10 percent down payment and a handover of the unit after 20 percent only. The sales event will be held in the KAEC Display and Sales Center in Prince Sultan Street, Jeddah, during the period from 25 April to 2 May 2019.

The Azalea project that is expected to handover in Q1 2020, covers an area of 29,500 square meters and includes 59 fashionable residential villas, with areas ranging from 352m2 to 518m2 and vary in size from four to five bedrooms designed to meet all the requirements of a modern family lifestyle. The project is supported by an advanced infrastructure based on the highest international standards, and features exciting community amenities including landscaped park, community center with a resident’s clubhouse, two swimming pools and children’s play areas that are already in operation.

Mr. Charles Biele, CEO of Real Estate Development Company (REDCo) in KAEC, stated: “The Azalea residential community represents the finest quality residential villas available in three different models including Modern, Arabian and Tuscan architectural styles. The community is designed to provide a state of the art infrastructure along with best in class community facilities,”

“Azalea project is part of KAEC’s contribution to enhance the quality of life sector, which is one of the ambitious goals of Vision 2030 that states it will provide a variety of housing solutions that is suitable for all income levels.”

####

About King Abdullah Economic City

King Abdullah Economic City is one of the largest and most significant privately run economic projects in the world. It is centered on the establishment of a 181 million square meter integrated city by the Red Sea coast north of Jeddah. The city surrounds coastal neighborhoods that offer diverse residential services for different income levels. It is also connected to King Abdullah Port, which is one of the largest ports in the world, as well as the Hijaz neighborhood, which includes one of the Haramain High Speed Railway stations. This is in addition to the Industrial Valley, which has attracted a number of leading local and international companies. Emaar Economic City is the master developer of King Abdullah Economic City, a Tadawul-listed public joint stock Saudi company established in 2006.