Issue No 290 - 10 Nov 2008
$250m Jeddah Eye contract signed

The Jeddah City Development Company has signed an agreement with Singapore-based Great Wheel Corporation for the construction of $250 million Jeddah Eye development project.

This iconic project will be a key part of the major redevelopment of Jeddah Center Project involving the construction of a 5-star hotel and shopping mall as well as a Great Wheel.

The construction of the project will begin in summer next year and will be completed in a three-year phase. The hotel and great wheel is due to open in 2012.

The hotel will have 350 rooms and a selection of quality restaurants. However it is the 150 meter high (Jeddah Eye) which is the centre piece of the mammoth development and is expected to attract at least 500,000 visitors a year transforming tourism within an already popular city.

Dr Ghassan Al Sulaiman, chairman of City Center Development Company, the sole developer of the Jeddah City Center Project and Florian Bollen, chairman of Great Wheel Corporation signed the contract marking the official start of the project.

The signing ceremony held at the office of Governor of Makkah Region Prince Khalid Al Faisal was attended by Mayor of Jeddah Adel Fakeeh, Forrest Cunliffe, CEO of Pioneer Management Group and several of the large land owners in the Jeddah Center Project.

Jeddah becomes the sixth city in the world chosen to host one of these prestigious and spectacular landmarks, joining an exclusive international family of cities including London, Beijing and Singapore, Al Sulaiman said.

The Jeddah Eye will be the most innovative and eye-catching of the Great Wheels with the hotel designed as an integral part of the structure, and will transform the skyline of the city, he added.

Khalid Al Faisal said The Jeddah Eye was a future symbol of modern Saudi Arabia and a message to the world that "we are an important part of the international community."

Adel Fakeeh said the project would add to the tourism attractions in the beautiful city of Jeddah and will be a major destination and landmark.

Bollen pointed out that the Jeddah Eye would be a unique Iconic Structure which will attract worldwide attention.

"Having traveled to Jeddah on several occasions over the past years I am impressed and very excited about this vibrant and forward looking city."

"The Jeddah Eye will reflect the desire of the Kingdom to move up and become one of the leading Economic Global Powers and will also substantially strengthen Jeddah’s position in the global tourism map," he opined.

Al Sulaiman pointed out that the Great Wheel Corporation after conducting a study in the whole of Mena region found that only two cities had the makings for hosting a Great Wheel project with Jeddah being one of those two.

In addition their study showed that the most suitable location in Jeddah for such a project was the Jeddah Center location, he noted.
Cunliffe whose company Pioneer Management Group is the project manager and developer commented: "This project reflects the important place that the Kingdom of Saudi Arabia has in the international community."

"The ‘Wheel’ is a statement of intent and will cement Saudi Arabia’s place as a leading nation on the Middle East stage. We are much honored to be involved in this landmark project," he added.

Source: Trade Arabia News

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