King Abdullah Economic City (KAEC) in Saudi Arabia, the largest privately-funded new city in the world, has announced the handing over of land plots in Phase Five of the Al Talah Gardens district, more than six months ahead of schedule.

The popular Al Talah Gardens district is being developed as a premium residential community in five phases.

The KAEC has already handed over the first four phases of the project and now the fifth phase is ready even before the contractual handover date.

In terms of design of community, functionality, leisure facilities and overall lifestyle, Al Talah Gardens is on par with top residential developments around the world, said a top official.

"Delivering this project ahead of schedule despite the tightening real estate sector indicates the strength of our business and execution, and reaffirms our commitment to providing exceptional service to buyers of residential land plots and properties," remarked Fahd Al Rasheed, the group chief executive and managing director of KAEC.

Al Talah Gardens Phase Five is designed by one of the world’s top architectural firms, Skidmore, Owings & Merrill (SOM).

Its infrastructure too is being readied on world-class standards with special design for storm drainage, sewage system, potable water, irrigation, electricity and telecom networks along with public roads and walkways, he noted.

Charles Biele, the CEO of Residential Development at KAEC, said: "AlTalah Gardens 5 is one of KAEC’s most attractive residential and lifestyle developments and we have enjoyed considerable demand from the market, for both prime residential properties and land plots for building,"
 
"It features state-of-the-art infrastructure and world-class public services, is an excellent opportunity for families and individuals to build their own homes, as well as for investors looking for long-term returns in the real estate market," noted Biele.

Residents of Talah Gardens will also enjoy the fast emerging city’s broader range of amenities including beach and marina waterfront dining options, retail, health care and security, international-quality educational institutions, sporting and leisure facilities and extensive green landscapes, he added.-TradeArabia News Service