Bloomberg News

Emaar Middle East to Hand Over Delayed Khobar Homes This Year

October 04, 2011

Oct. 4 (Bloomberg) -- Emaar Middle East, a unit of Emaar Properties PJSC, will hand over villas in Al Nada Village by year end after missing its second-quarter 2010 completion target, said General Manager Ahmad al-Kulli.

“The final touches to the homes and landscape are currently being undertaken,” he said in a statement today. The villas are part of the $1.3 billion Al Khobar Lakes development.

The project in the kingdom’s eastern province was started in May 2008. Al-Kulli in June blamed delays of the Al Khobar Lakes and other Emaar Middle East projects such as Jeddah Gate and the King Abdullah Economic City on bureaucracy.

To contact the reporter on this story: Sarah Abdullah in Johannesburg at sabdullah8@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


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