Tameer in Ajmakan deal
Dubai, October 10, 2007
A new deal has been signed to design the master plan of Ajmakan Project, one of the biggest real estate projects in Saudi Arabia.
The property alliance that includes the leading property firm in the region "Tameer Holding", the Saudi-based Al Shoula Holding Group and the Land Company for property development and investment, signed the agreement with the Tokyo-based Nikken Sekkei Limited.
The agreement was signed by Karim Jabour, a representative for Tameer and Land Consortium and Nikken Sekkei senior executive officer Takeshi Nakawaki.
Ajmakan is the first project to be launched by "Tameer Holding" in KSA after its alliance with "Al Shoula" and "The Land", and represents the continuous efforts of the firm to execute mega-projects; of which, this will be one of the largest in KSA.
"I can't say anything except that I am so glad to see "Ajmakan" moving step by step towards completion, especially since this mega-project is the fruit of a special alliance between "Al Shoula", "The Land" and "Tameer". It represents the cooperation between UAE and KSA firms where large and leading projects are creating a huge benefit for both countries", said Omar Ayesh, president of Tameer Holding.
Ajmakan, that was launched last May, is one of the biggest real estate projects in Saudi Arabia and is located in Al Khuzama Quarter, one of Riyadh’s most distinctive areas, on an area of around 1,750,000 sq m, with a total project value of about SR6 billion.
The giant project comprises a fully integrated commercial zone with business centers, elite villas, palaces and a prestigious five-star hotel with advanced facilities.
Furthermore, the commercial zone features a state of the art infrastructure, spacious streets, in addition to other services and facilities introduced to the Kingdom for the first time.
"The property boom KSA is experiencing, encourages us to develop mega projects, and is encouraging us to forge key alliances with huge firms in order for us to successfully compete. Ajmakan, by God willing, will be the gate for more mega projects that add value to the Kingdom's property market”.
Nikken Sekkei., designer of Ajmakan Project's master plan, is one of the leading international architectural companies providing a complete line of services to support giant projects.
These services include architectural design, urban planning, design and construction administration services and other common services such as survey, planning and general counseling.
The company is involved in executing a large number of projects for different countries all over the world, in both public and private sectors whether industrial, educational, cultural, medical or residential.
To be crowned for its remarkable efforts for more than a century, Nikken Sekkei Ltd. was ranked as the number one architectural design firm world, ranking list in British architectural magazine, BD World Architecture Review, January 2007 issue.
The journey of Tameer began in 1991.
This UAE-based company has grown over the years, with the aim of becoming the leading property developer in the region.
In 2005, Tameer Holding formed a strategic partnership with Al-Rajhi Investment Group and today the firm's investment portfolio in the realty market totals over dhs150 billion.
Currently, Tameer Holding is developing key projects in the UAE, such as its signature development “AlSalam City” in Umm Al Quwain, and “Al Ameera Village” in Ajman, with "Princess Tower", one of the world's tallest residential tower, located in Dubai Marina.
This was followed by other key projects in Dubai such as the “Al Dana 1 & Al Dana 2” projects, “Al Shahd” Tower on the Emirates Hills, “Al Jawzaa” in International City, The Palace Towers in Dubai Silicon Oasis, “Elite Residence” in Dubai Marina and “Imperial Residence” in Jumeirah. The “Regal Tower” the "Silver To