WINNERS OF CITYSCAPE REAL ESTATE AWARDS ANNOUNCED

479Day two of the Jeddah Urban Development and Real Estate Investment Event– Cityscape Jeddah 2014 culminated in the much anticipated announcement of the winners of this year’s prestigious Cityscape Real Estate Awards. Presented before an audience of investors, developers and real estate professionals, the awards honored exceptional projects in each of four categories: Commercial and Mixed Use, Residential Project, Retail Project, and Community and Culture.

The award winner for Commercial and Mixed Use was the Prince Sultan Cultural Centre which is being developed by the Prince Sultan Cultural Centre Company near the newly opened King Abdullah Sports City in Jeddah. The projectwill include housing for some 15,000 people and will be anchored by an ultra-modern cultural center, luxury hotels, villas, apartments and the largest man-made lake in Saudi Arabia. Construction is set to begin later this year.

Receiving the award, Dr. Ahmed Al Sanousi, CEO of Prince Sultan Cultural Center highlighted that this is a visionary project which responds to the future needs of the city and provides housing solutions, convention centers, a medical park, educational facilities and hospitality. “The project is unique by all means and certainly deserves such a prestigious award.”

The Residential Project award went to Rayadah Investment Company for its project, Rayadah Housing Complex, Duplex Contemporary. Located in Obhur Al Janoubia just north of Jeddah, the project will comprise 972 luxury villas in Arabic contemporary and Arabic modern styles on approximately 2.5 million m2 of land.

For the Retail Project category this year’s award went to the Jamea Plaza renovation and expansion project which is being handled by Kinan International Real Estate Development Company. The aim is to transform Jamea Plaza into a cultural magnet for residents of Jeddah’s Jamea District. The mall will be expanded to accommodate additional anchor stores while undergoing an external makeover designed to transform the mall into a visual icon for the neighborhood.

Majed Al Gethmi, Director of Leasing and Business Development at Kinan Real Estate Company, expressed his happiness with the award highlighting that it crowns years of studies and planning to rehabilitate the Jamea Mall in accordance to international standards. “A Cityscape awardis a prestigious award that real estate developers aspire to win and what we have done to rejuvenate the mall is something new in the Kingdom and obviously entitled us for the award.”

The awards ceremony culminated with the announcement of the Community and Culture award won by the project for the revival of the old ladies’ souq in Dammam, which is being spearheaded by the Dammam Municipality with AFM Consultants as the lead architects. The dilapidated souq is being reenergized as a tourist destination reflecting the traditional architecture of the Eastern Province. A training center, aimed at improving the craft-making skills of low-income women, will also be housed within the renovated souq.

Supporting the vision for growth in the real estate industry, Cityscape Jeddah 2014 was under the patronage of His Royal Highness Prince Misha’albin Majed bin Abdulaziz, Governor of Jeddah, and sponsored by Sumou Real Estate (Principal Sponsor) and Ewaan Global Residential Company (Founding Sponsor).

The Jeddah Urban Development and Real Estate Investment Event - Cityscape Jeddah is the leading real estate event in the Kingdom, highlighting iconic architecture and innovative development, and providing direct access to the region’s biggest real estate market – Saudi Arabia.



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