Awaterside village, a multi-functional business park and a 20-storey office tower are among the diverse projects that are being developed by Sredco (Saudi Real Estate Development Company), a Jeddah-based specialised and professional real estate group and a wholly-owned subsidiary of Alesayi Group of Companies.

The company is creating the 1 million sq m Jeddah South Corniche, a waterside development along the coast at the South Cornice Road. It is located some 40 km south of Jeddah and can be accessed from the new Jeddah to Jizan highway.
The project involves land forming around natural lagoons, which will provide access to the Red Sea for the development of residential, commercial and recreational components.
“The objective is to create a village or a small-town ‘oasis’ environment with sufficient facilities to attract and stimulate private residential development, supported by attractive public recreational and commercial amenities to serve both residents and visitors,” says John Alexander, business development consultant for Sredco.
“The public areas will appeal to all visitors, but special emphasis will be on families with children.  A hotel and marina will be at the heart of the commercial area,” he adds.
The Business Village includes commercial and office elements that will be developed on a 34,000 sq m plot overlooking the Red Sea coast and the Jeddah Islamic Port. Erga, an architectural practice based in Beirut, Lebanon, has been selected to design the project, which will be located next to the new Jeddah Municipality headquarters building.  Construction work on the development – which will boast a number of glass-clad high-rises featuring an ultra-modern architectural style – is planned to start this summer.
Sredco is also developing the Burj Al Mustaqbal, a new 20-storey office tower, which will also feature retail space.  The tower will be developed on a 1,280 sq m site in the heart of the important Al Balad commercial district of downtown Jeddah on King Abdulaziz Street, opposite the National Commercial Bank headquarters building.
Burj Al Mustaqbal will comprise a two-level podium featuring showrooms, above which is the office complex.  The building features extensive glass facades on the lower and upper levels with a stylish curved glass-punctuated facade along the mid-section. The concept design for the building is being prepared by Innovators, a Jeddah-based architect.
Sredco, also a lead investor in Express by Holiday Inn, has a roll out plan for a total of 12 hotels throughout Saudi Arabia, all operating by end 2009.

Sredco
The company focuses on the development, construction and management of high-end residential and commercial properties. Sredco offers a wide range of residential properties to suit people of different tastes and aspirations. Every project follows a specific theme that harmoniously blends function with aesthetics and the environment, says a company spokesman.
It can offer commercial properties in prime districts in various metropolitan areas of the country. Sredco forms a close working relationship with the client in order to tailor the property and the terms to maximise the returns on their business, he adds.
“Over a period of time, Sredco has gained valuable expertise in design and value engineering of its developments. It has formed ventures with some of the best International names in the business, the latest among which is V-3 Inc, a major US engineering firm specialising in eco-friendly residential and industrial projects,” the spokesman says.