Ewaan Assures Leadership & Wins Restatex Jeddah 2016 Awards For Two Best & Largest Residential Projects

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Ewaan Global Housing achieved a unique, one- of-a-kind achievement in 2016 by earning two of the most prestigious awards offered by the Jeddah Exhibition for Real Estate, Housing and Urban Development “Restatex 2016”. The exhibition, one of the most important real estate events in the Kingdom and the largest in Jeddah, held its opening ceremony on Tuesday, February 9 2016, with the presence of His Excellency, Minister of Housing Mr. Majed Bin Abdullah Al Huqail.

Ewaan won the award for best residential project for the Mayar project, and the award for largest residential project for the Al Fareeda project, both of which are currently being developed in the Dahban area north of Jeddah. Both projects are based on the concept of residential communities fully inclusive of services and facilities.

Ewan Global Housing CEO, Mr. Riyadh Al Thaqafi, expressed his gratitude and thanks to Al Huqail for his generous patronage of the exhibition, pointing out that Ewaan was honored to receive the award from his generous hands. He stressed that this highlights the special attention Ewaan gives to the interests and demands of the Saudi family, and their full observance of its culture and traditions. Al Thaqafi continued, stating that it is also confirmation of Ewaan keeping its leading position nation-wide, as well as its significant role in developing the Saudi housing sector, especially in Jeddah.

Al Thaqafi stated, “The Kingdom is currently undergoing critical economic conditions, especially after the government’s issuance of a number of important reforms, which will revive the local economy and continue the development and national construction processes sustainably, particularly with the drop in oil prices in global markets, and the critical need to diversify sources of national income other than the oil commodity.”

He added, “As a result of this new approach, and with the upcoming implementation of tax on vacant lands, which will play a vital role in accelerating the pace of developing housing, it is expected that the local real estate market will witness more important opportunities, which will shed light on the general performance of real estate developers in the Kingdom. We see promising opportunities in what is to come, and we believe it will be more creative and innovative. We will develop and enhance our concepts and work philosophy, and will continue to seek new methodology to ensure the excellence of our real estate products, while maintaining the best real estate development standards.”

Ewaan’s focus in the exhibition, of which it is a diamond sponsor, is on the two projects currently being developed in the Dahban area, one of which is the Al Fareeda residential project, the most unique project Ewaan has

launched since its inception, with a development value exceeding 1.8 billion SAR, including around 1,800 residential villas with different sizes and four different architectural designs, all surrounded by gardens, green landscapes and roads filled with wooden areas, on a span of one million square meters divided into four main phases and eight sub-areas. Al Fardeea is known for its extensive, state-of-the-art infrastructure, and its masterful design and architecture, which take into account the culture and traditions of the Saudi society. It also offers a unique lifestyle by providing integrated housing solutions aimed at those seeking to own affordable homes.

The units in the first, second and third phases of Al Fareeda have been completely sold out, while all the units of the first phase have been delivered to their new owners. The remaining units in the second phase are expected to be delivered by the end of this year.

As for the Mayar residential project, which will neighbor Al Fareeda, it features a direct view of the Medina highway and includes the concept of developing a diverse, integrated community offering a mix of differently sized apartments that provide numerous residential needs. The residents will benefit from the facilities, healthcare services, educational services and shopping, entertainment and sports centers that Al Fareeda will offer. Ewaan is implementing the project over two main phases, the first of which is building the infrastructure and the second of which is developing the housing units and remaining facilities.

Al Thaqafi concluded, “We are seeking the promising opportunities filling the Saudi real estate market, especially in regards to the housing sector. We will continue to enhance our presence in the local housing market and confirm our loyalty to the Saudi society, as well as our commitment to providing housing to all its segments with the highest quality standards and most refined international standards. Restatex Jeddah provides us with a strategic channel to communicate with different parts of the Saudi society in Jeddah and the western province in general, starting with other real estate developers, financiers and public service providers, all the way to –most importantly- the Saudi citizens aspiring to own their own homes.”

The Jeddah Exhibition for Real Estate, Housing and Urban Development is considered the first and largest of its kind in the western area for development, real estate investment and housing companies, in addition to the most prominent Saudi companies and banks offering various mortgage programs. The exhibition provides opportunities to build and enhance partnerships and direct relationships between real estate, housing and funding leaders and decision makers in the Kingdom.