Thursday, 22 November 2007
By Adel Al-Malki
JEDDAH - The city's Company for Development and Real Estate Improvement, an undertaking of the Municipality, has signed contracts to develop Jeddah neighborhoods over the next six months.
The contracts focus on four main points aiming to solve the sensitive problems of the city. "The execution of the projects will start six months from now," said the company's chairman, Tariq Telmasani. "The project aims to improve ramshackle areas, housing and infrastructure."
He added the cost of the projects reach into the millions of riyals.
The company is working to involve the private sector through the development and implementation of strategic plans flexible to respond to the current needs and future of the city.
"The company has adopted a clear-cut strategy that would develop districts, add physical balance, and make the city distinct and provide all the of local and global competencies and skills, drawing from the experiences of companies with a global lead in this field," Telmasani said.
The Jeddah Company for Development and Real Estate Improvement was established by Royal Decree two years ago, in response to the requirements of economic and architectural development taking place in Saudi Arabia.
"The company will operate to achieve the vision of the Municipality in Jeddah to reinforce the status of the unique gateway to the Holy Shrines in order to become a center of Islamic culture, and commercial and tourist destination distinct environmentally and human aspects," Telmasani said.