PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Alpha1Estates: 2011 starts decade-boom in Makkah, Madinah real estate

Global Islamic real estate consultancy Alpha1Estates International said on January 1, 2011, and in the new Islamic year of 1432 that the coming decade will usher in a maturing phase of the real estate sector of Makkah and Madinah, leading to a boom.

2011-01-01
LONDON, ENGLAND, January 01, 2011 (Press-News.org) The company, which launched to global acclaim five years ago on January 1, 2006, said that the past decade had been about laying the foundations of flagship projects and physical infrastructure, but the coming one would focus more on building non-physical infrastructure aimed at convenience - for the pilgrim (resident and visitor) and investor (domestic, regional and global).

'Alpha1Estates International is immensely proud to celebrate its fifth anniversary today, marking more than half a decade of unparalleled global reputation and experience in marketing real estate projects in Makkah and Madinah,' said Mr Al-Alawi, Chairman of Alpha1Estates International.

'Our focus, and that of all those involved in the real estate sector in the Holy Cities, should now be increasingly directed at bringing world-class infrastructure which will make it easier for Muslims to live, visit, invest and work in the Holy Cities.'

Alpha1Estates International launched in 2006 to become the world's first company to market Saudi Arabian property globally and also the first company to market property in both Makkah and Madinah, with its projects ZamZam Tower, Makkah, Abraj al-Bait, Makkah, Hajar Tower, Makkah and Taiba Eastern Tower, Madinah all centrally located near the two Holy Mosques. In subsequent years, it has launched the world's first bespoke real estate consultancy programme and joint-investment fund focused on the Holy Cities.

Real estate investment in Makkah and Madinah accounts for 40% of total real estate investments in the Kingdom, reflected in land prices in the Holy Cities being the most expensive in the world at between $70,000 and $110,000 per square metre, hitting $133,000 per square metre in Makkah in 2010.

Alpha1Estates' current flagship projects are Abraj al-Bait in Makkah and Al-Tilal Villas in Madinah. The Al-Tilal Project in Madinah allows Muslims from all over the world to purchase permanent villa homes nearly 10 kilometres from the Prophet's Mosque. The Royal Clock Tower is the central tower in the Abraj al-Bait Project, 50 metres opposite the Grand Mosque in Makkah, which allows Muslims to buy apartments on 24-year leases as part of a government-based religious endowment.

In January 2010, the company launched the Ihsan al-Haramain Index, the first index to solely track Saudi-listed companies involved in real estate development in Makkah and Madinah. The Ihsan al-Haramain Index reveals for the first time internationally that the real estate sector in the Holy Cities has suffered in 2010 due to a lack of mobilisation in non-physical infrastructure, which will change in 2011 and beyond.

'The Ihsan al-Haramain Index fell by 21 percent this year, affecting both Makkah and Madinah to the same degree, and underperforming by 6 percent the Tadawul (Saudi Stock Exchange) Real Estate Development Index which fell 15 percent this year,' said Mr. Al-Alawi. 'Be it the long-awaited Saudi mortgage law or certain regulations on investment in the Holy Cities, it is clear that we are now seeing the need for a vision beyond bricks, mortar and steel - and one which I am delighted to state is forthcoming.'

To commemorate the start of the new decade, the company also would be expanding its operations in 2011 through its own global offices, joint ventures, agency and franchise appointments.

'In 2010, we expanded our footprint in the Middle East, Asia-Pacific, Americas and Africa, both with our own localised operations as well as agency appointments,' said Mr. Al-Alawi. 'In 2011 and beyond, we look forward to extending our operations globally to meet demand.'

Over ten million Muslim pilgrims from 140 countries visit the Holy Cities annually for Hajj and Umrah, contributing 30 billion Saudi riyals ($8 billion) per year, the second-most lucrative source of the Kingdom's revenue after oil.

Alpha1Estates International's reputation as the thought market leader on real estate investment in the Holy Cities was re-inforced in June 2010 when leading property firm Jones Lang LaSalle published a report on the sector with the headline 'Infrastructure key to increasing religious tourism in Saudi's Holy Cities', further stating that the sector was 'unique in the MENA (Middle East and North Africa) region in that they are constrained more by supply and capacity constraints and not demand (which is effectively unlimited).'

In January 2010, nearly half a year earlier, Alpha1Estates International had publicly stated that investment in the real estate sector of the Holy Cities was 'based on inelastic and rising global demand from the world's billion and a half-plus Muslims, supported by significant public and private sector investment in infrastructure, both for the Grand Mosques and transport to them'.

Milestones in 2010

In 2010, Alpha1Estates International said there had been many milestones in the real estate sector in Makkah and Madinah. In the realm of the Holy Mosques and Sites, there had been multi-billion dollar expansion of the Grand Mosque in Makkah and the Prophet's Mosque in Madinah, and the Saudi Commission for Tourism and Antiquities (SCTA) announced that it will be developing heritage sites including the Ain Zubaida water supply system, urban centres in Jabal Al-Noor and Jabal Al-Thawr as well as historic buildings and wells in Makkah.

In the realm of real estate projects, there was the completion of the Abraj al-Bait project in Makkah, including the completion of the tallest concrete building in the world, Makkah Clock Royal Tower (and the second tallest building in the world after the Burj Khalifa, Dubai, UAE) as well as the launch of the King Abdul Aziz Road project and the Umm al-Joudah project.

In terms of transport infrastructure, there was the first-phase completion of the 18km Makkah Metro railway; the continuation of the first phase of the 450km-Haramain Railway, linking Makkah, Madinah and Jeddah; the expansion of the Jeddah International Airport for Makkah and the Prince Mohammed bin Abdulaziz International Airport in Madinah; international airlines have boosted their Hajj coverage, with some like Brunei Airlines operating their first Hajj flight to Jeddah in 2010, whilst direct international flights to Madinah have also increased with Emirates, Gulf Air and Royal Jordanian initiating their services in 2010.

'We are pleased to witness these milestones, including the completion of the Royal Clock Tower in Makkah in 2010, marking five years since we internationally launched the project,' said Mr. Al-Alawi. Alpha1Estates International launched Abraj al-Bait, Makkah, in a global television presentation on December 25, 2005, which can be viewed on its channel on YouTube.com and Muxlim.com.

'These and other achievements focus on physical infrastructure. Whilst this will undoubtedly continue and should be enhanced, it is investment in non-physical infrastructure which will help the sector mature as the latest results of the Ihsan al-Haramain Index reveal.'

A Future Vision

In the first half of 2011, two separate development organisations for the Holy Cities of Makkah and Madinah will be launched by the Makkah and Holy Sites Development Authority (MHSDA). For Makkah specifically, the 'Holy Makkah Comprehensive Plan', a 100 billion Saudi riyal plan ($27 billion) to transform Makkah into a city with world-class facilities and services, will also be launched. In 2012, other significant projects like the new annex east of the Grand Mosque, the Jabal Omar project near the Grand Mosque, and the Haramain Railway between Makkah and Madinah are also set to be completed.

Mr. Al-Alawi said these latest developments from the public and private sector in the Holy Cities are promising.

'As we enter the decade leading up to 2020 and 1440, the vision to transform the Holy Cities is being realised.'

Alpha1Estates International is a prime real estate consultancy with projects based in the Holy Cities of Makkah and Madinah in the Kingdom of Saudi Arabia. For further information, please visit http://www.alpha1estates.com


ELSE PRESS RELEASES FROM THIS DATE:

Penny Auction Review Site Launched With Key Consumer Strategies

2011-01-01
The recent convergence of disappointing economic data and online shopping trends has produced a groundswell of new websites offering top quality products in a penny auction competitive pricing format. Large publicly traded internet retail chains including Ebay, Amazon and others are already feeling the pinch as thrifty bargain-conscious consumers shift their attention to sites that allow them to get the same merchandise with deep discounts, thanks to the penny increase in the purchase prices creating downward pressure on the eventual sale price of every item. Now as consumers ...

Paul Chehade - Happy New Year - Solidary Foundation

2011-01-01
New Year is a time for celebration of love, of life, of Friendship. It's the time to thank God for wonderful friends, and to bring to their lives as much magic as they bring to ours... Praying that it's magic continues forever. Happy New Year! New Year Message Dear Friends: New Year is a time for celebration of love, of life, of Friendship. It's the time to thank God for wonderful friends, and to bring to their lives as much magic as they bring to ours... Praying that it's magic continues forever. Happy New Year! Best regards, Paul Chehade:. Paul Chehade ...

Cosmetic Surgery Practice in Detroit Seeing More Revision Rhinoplasty

2011-01-01
Board-certified plastic surgeon Dr. William Vasileff (http://www.drvasileff.com) is seeing a rise in the number of people who experienced an undesirable outcome from nose surgery and are now seeking help at his cosmetic surgery practice serving Detroit to fix an uncorrected problem. It's estimated that about 15 percent of nose surgeries, also known as rhinoplasties, require revision, usually to correct a specific cosmetic issue such as a crooked tip or a functional issue like difficulty breathing. "Most people are happy with the results of their rhinoplasty, but ...

Narconon Enlists Hip Hop to Launch Powerful Anti-Drug Message In Upcoming 25th Anniversary Kingdom Day Parade

Narconon Enlists Hip Hop to Launch Powerful Anti-Drug Message In Upcoming 25th Anniversary Kingdom Day Parade
2011-01-01
A unique Martin Luther King anti drug kick-off event took place on December 18th enlisting LA's urban artists to use their art to help beat back the influence of drugs from our communities. The graffiti art battle held at Crewest Gallery, and hosted by well-known LA urban artist, Man One, was sponsored by Narconon Professional Drug Prevention. "Looking at where we are today, we clearly need to speed up and intensify the effort if we are going to make Dr. King's dream a reality," says President of Narconon , Clark Carr. Narconon International decided the answer was to ...

Critically Acclaimed Artist Robert Kipniss Featured in Major Exhibition Hosted by Park West Gallery CEO Albert Scaglione

2011-01-01
Park West Gallery, now in its 42nd year as a leading fine art dealer, recently curated a landmark retrospective highlighting historically significant works by famed American artist Robert Kipniss. The collection was unveiled aboard Norwegian Epic during an art collector's cruise hosted by Park West Gallery and its CEO and founder Albert Scaglione. The December 4-11, 2010 voyage was Kipniss' inaugural cruise and a rare opportunity for collectors to interact with the artist. The retrospective was presented to nearly one hundred Park West Gallery VIP collectors aboard Norwegian ...

Timelines for Evolution and Creationism are Both True

2011-01-01
There has been a century's long, heated debate in regards to the theory of evolution and facts of science with the Judeo-Christian belief about the timeline of the creation of the universe. Observational measurements of the universe place its age around 15 billion years old while a literal reading of the first book of the Hebrew and Christian bibles place the age of the universe at only around 6 thousand years. Surprisingly, one of the most confirmed theories of physics, Einstein's Special Theory of Relativity, resolve this issue and allow both to be true. Simply put, ...

13 is a Unique Fibonacci Number

2011-01-01
Fibonacci numbers are named after a mathematician in the 1200s who discovered them. Simply, you get a sequence of numbers by adding the preceding two adjacent numbers to get the next number. The sequence starts with two 1s. To get the third number, you add the two 1s and you get 2. To get the fourth number, add 2 and 1 and you get 3. The sequence goes on and a sampling of the list is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233 and so on. The uniqueness of this set of numbers is that they are found in nature like in the diagonal patterns of the pineapple and the inside ...

Patient Education Resources Available On Aurora Dentist's Website Enhance Patient Knowledge Of Dental Health Care

2011-01-01
Leading Aurora dentist, Dr. Samy Samaan, recently added patient education resources to allow patients to gain further knowledge of various dental health care topics. Patients can access the extensive education library via the website for this family dentist in Aurora. Dr. Samaan and Dr. Salamah, Aurora, IL dentists, are committed to improving patient education. To increase new treatment awareness and allow easy access to how patients obtain their dental resources, this gentle dentist in Aurora has included patient friendly, educational materials on the practice's website ...

Dentist In Beverly Hills Offers Exclusive Online Offer To New Patients

2011-01-01
Best dentist in Los Angeles, Dr. Shervin Louie, offers an online special for new patients visiting his dental practice. The Internet special was created in order to enhance the practice's commitment to its patients, as well as providing new patients with a unique, affordable dental experience. When patients visit this West Hollywood dentist's website, they can access the Internet special for more information. New patients now have more incentive than ever to access quality dental health care from this Beverly Hills dentist. Dr. Shervin Louie offers new patients free ...

Dentist In Mooresville, Dr. Paresh Patel, Offers Patients The Opportunity To Request Appointments Online

2011-01-01
Experienced dentist in Mooresville, Lake Norman Cosmetic Dentistry, has recently created the opportunity for patients to request their appointments online via its patient-friendly website. Patients can visit Lake Norman Cosmetic Dentistry's website to access the appointment requests page to request an appointment for anything from regular cleanings to dental implants in Mooresville. "Making an appointment with our office is more convenient than ever with our new and easy to use appointment requesting feature. Our patients can visit our site, fill out the appropriate ...

LAST 30 PRESS RELEASES:

Unlocking the mysteries of the human gut

High-quality nanodiamonds for bioimaging and quantum sensing applications

New clinical practice guideline on the process for diagnosing Alzheimer’s disease or a related form of cognitive impairment or dementia

Evolution of fast-growing fish-eating herring in the Baltic Sea

Cryptographic protocol enables secure data sharing in the floating wind energy sector

Can drinking coffee or tea help prevent head and neck cancer?

Development of a global innovative drug in eye drop form for treating dry age-related macular degeneration

Scientists unlock secrets behind flowering of the king of fruits

Texas A&M researchers illuminate the mysteries of icy ocean worlds

Prosthetic material could help reduce infections from intravenous catheters

Can the heart heal itself? New study says it can

Microscopic discovery in cancer cells could have a big impact

Rice researchers take ‘significant leap forward’ with quantum simulation of molecular electron transfer

Breakthrough new material brings affordable, sustainable future within grasp

How everyday activities inside your home can generate energy

Inequality weakens local governance and public satisfaction, study finds

Uncovering key molecular factors behind malaria’s deadliest strain

UC Davis researchers help decode the cause of aggressive breast cancer in women of color

Researchers discovered replication hubs for human norovirus

SNU researchers develop the world’s most sensitive flexible strain sensor

Tiny, wireless antennas use light to monitor cellular communication

Neutrality has played a pivotal, but under-examined, role in international relations, new research shows

Study reveals right whales live 130 years — or more

Researchers reveal how human eyelashes promote water drainage

Pollinators most vulnerable to rising global temperatures are flies, study shows

DFG to fund eight new research units

Modern AI systems have achieved Turing's vision, but not exactly how he hoped

Quantum walk computing unlocks new potential in quantum science and technology

Construction materials and household items are a part of a long-term carbon sink called the “technosphere”

First demonstration of quantum teleportation over busy Internet cables

[Press-News.org] Alpha1Estates: 2011 starts decade-boom in Makkah, Madinah real estate
Global Islamic real estate consultancy Alpha1Estates International said on January 1, 2011, and in the new Islamic year of 1432 that the coming decade will usher in a maturing phase of the real estate sector of Makkah and Madinah, leading to a boom.