Crystal Lagoons’ Latest Developments Awed Middle East Investors during Saudi Arabia event28 November, 2016 / News
Crystal Lagoons’ Regional Director for the Middle East, Carlos Salas, has recently attended the 7th edition of Jeddah Urban Development & Real Estate Investment Event, powered by Cityscape.
The event, which was held from November 2nd to 4th at the Jeddah Centre for Forums and Events, owned by the Jeddah Chamber, saw thousands of visitors from across the country walk through its doors, an indication of the real estate potential in KSA.
For Carlos Salas, Regional Director for Crystal Lagoons, who attended the workshop, there was a clear understanding of the market. Three high profile GCC projects are currently under development, including the 160-hectare Mayasem mixed-use development, located north of Jeddah, which will feature a new 7.5-hectare lagoon as its leisure centrepiece.
In Dubai, the Mohammed Bin Rashid City District One mixed-use development, a joint venture between Meydan Group and Sobha Developers Ltd., situated close to the Meydan Racecourse, will feature a 40-hectare lagoon with a further eight hectares to be added to the existing 1.43-hectare pilot lagoon this year. The completion date is 2020.
And, in Oman, the Alargan Towell Investment Company is developing the 50-hectare Barka Resort integrated tourism complex project. Located 50 kilometers west of central Muscat, the four-hectare lagoon will form the centrepiece of the project and will be surrounded by three hotels, serviced apartments, a mixed-use souk, commercial areas and a collection of villas, townhouses and apartments. The first phase of the project is scheduled to be completed by 2017.
Crystal Lagoons is an international innovation company, founded by scientist Fernando Fischmann, which has developed a patent-protected technology that allows the construction and maintenance of unlimited-size crystal clear lagoons at very low costs.