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In January 2006, the Foundation Stone of Saraya Aqaba Real Estate Project was laid marking the beginning of construction of this $600 million development. Encompassing 610 thousand square meters and scheduled for completion in 2009, Saraya Aqaba will add a luxurious world-class resort to the Nabatean city of Aqaba.
Set amid the northern shores of the Red Sea and the foothills of the Aqaba Rum Mountains, Saraya Aqaba offers a timeless appeal in an unforgettable and serene setting. Fashioned as an ancient Arabic city, Saraya Aqaba provides its residents and visitors with lavish accommodation and an old souk alongside a range of entertainment and dining venues. Its themed environment conjures a glimpse of the old city while providing modern lifestyle conveniences all encircling a 1.5km man made lagoon and at the heart of Aqaba.
Saraya has consistently sought to preserve the environmental balance in Aqaba and with this in mind Saraya Aqaba residences have been named to reflect the region's birdlife. Al Hassoon Grand Villas, Al Bulbul and Al Hijil Villas and Al Khudairy and Al Carawan apartments are some of the names that capture the appeal of owning a Saraya Aqaba home. Residences feature sumptuous interiors designed by KCA International Interior Designs to complement their spectacular setting. KCA have a long history of culturally sensitive designs and play a key role in the appeal of Saraya Aqaba homes.
Deluxe hotel accommodation is provided by Saraya partners Jumeirah and Starwood who will cater to guests’ every whim and desire. Jumeirah, the world renowned hospitality group that operates and manages the most luxurious and innovative properties in the world, will be operating three of the six 5-star hotels, the exclusive water park, as well as directing their vast hospitality management experience to the Grand Villas and Villas. In addition, two 5-star hotels will be operated by Starwood Hotels and Resorts Worldwide Inc under their "Luxury Collection" brand.
In order to bring prospective owners closer to their dream, Saraya Aqaba and the Arab Bank recently agreed that the Arab Bank will be the 'official bank of choice' for residents. Among its many services it will provide preferential financing agreements to include grace periods of up to 36 months and inclusive life and property insurance.
The exclusive design and build contractors for Saraya Aqaba is Saudi Oger Ltd, ensuring the delivery of the highest specifications and construction standards.
Moreover, Asteco the Dubai-based company, which celebrated its 20th anniversary this year, will act as the sole sales agent for the residential component of Saraya Aqaba.
General Manager of Saraya Aqaba, Dr. Khalid Wazani said "Saraya Aqaba provides the highest standards of luxury and comfort for residents and guests. We have selected an excellent location and chosen strong partners to help us develop a unique world-class resort which will become a premiere destination for business people, visitors and residents alike." | 
