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Jiwar launches Rawabi Abraj Al Bait project in Mecca at Cityscape Dubai
Source: BI-ME , Author: Justin Smith
Posted: Tue October 16, 2007 12:00 am

INTERNATIONAL. Saudi-based Jiwar Real Estate Management Marketing and Development Co today announced the launch of its Rawabi Abraj Al Bait residential and commercial project in Mecca, Saudi Arabia, during Cityscape Dubai 2007.

Jiwar’s Rawabi Abraj Al Bait project, which comprises 21 towers, stands out due to its prime location overlooking one of the holiest sites of Islam, Al Masjid al Haram. The launch of the project by Jiwar at Cityscape Dubai is expected to create a major buzz and reinforce the company’s reputation of being associated with some of the most prestigious projects in the Kingdom of Saudi Arabia.

Jiwar, one of the premier property developers in Saudi Arabia, is commemorating its fifth anniversary this year and is keen to celebrate its success over the years through the official launch of its latest project, at Cityscape Dubai. Another highlight for the company is the achievement of US$ 2 billion in sales in the short span of five years since it commenced operations.      

Jiwar is the exclusive marketing agent for the prestigious SAR 6 billion Abraj Al Bait project (King Abdul Aziz Endowment Project), being built close to the holy mosque in the holy city of Mecca. At the 2006 edition of Cityscape, the company had announced the sale of Hajer Tower – one of the seven towers of the project – to a group of investors from Kuwait and Saudi Arabia in a deal worth SAR 2.2 billion. 

Dr Saleh Habib, Chief Executive Officer, Jiwar, said: “In only five years since we commenced operations in the Saudi Arabian property market we have achieved considerable success and have launched several landmark projects. Being appointed as the exclusive marketing agent for the prestigious Abraj Al Bait project was testament to our expertise and in-depth market knowledge, and today as we celebrate our fifth anniversary, we are glad to officially launch our Rawabi Abraj Al Bait project during Cityscape.

"The sought-after location of the project in Mecca and the various facilities it offers, make it highly appealing to investors in the Islamic world, and we believe an event of the scale of Cityscape is the ideal platform to launch this exclusive project.”

“We are pleased to play a major role in Saudi Arabia’s booming real estate market, which is expected to see new real estate construction amounting to SAR 484 billion by 2010. As we embark on pioneering new real estate developments in the Kingdom, we look forward to the continued patronage of our clients and the support of our team of qualified and experienced professionals who have consistently demonstrated their commitment to quality and customer satisfaction,” he added.

Jiwar’s Rawabi Abraj Al Bait project covers a total area of 2,722,593 square metres and boasts world-class amenities including wireless connectivity, 24/7 security, high-speed elevators, restaurants, ample parking, medical facilities, prayer rooms and shopping malls.

 

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