Oud Real Estate and first avenue Join Forces to Develop “La Perle by Oud” The Most Elegant Destination in Jeddah
Mar 28, 2022
First Avenue Real Estate Development and Oud Real Estate have signed a strategic partnership agreement to jointly develop and operate La perle by oud in Jeddah.
Strategically located in the prestigious Al Shati district on Sari Street, west of King Abdulaziz Road and just 600 meters from the New Corniche, the project is set to redefine elegance in Jeddah as the city’s '“first of its kind” destination in both design and services. The development will feature two office towers, a boutique style plaza for private and emerging companies, as well as contemporary restaurants, retail outlets, and areas dedicated to commercial activities. Oud Real Estate will ensure the project is developed in line with international standards, fully equipped with state-of-the-art facilities and infrastructure.
Commenting on the partnership, Mr. Nader Hassan Al-Omari, CEO of First Avenue Real Estate Development, expressed his delight in welcoming Oud Real Estate as a partner in the development and operation of the project. He emphasized that this alliance reflects the company’s mission to enrich quality of life through inspiring real estate development and promising investments, noting that the project is part of the Al-Shurfa Fund portfolio under the management of Jadwa Investment.
Eng. Mohammed bin Khalid Al-Duraibi, Managing Director of Oud Real Estate, stated that this partnership marks the beginning of a new chapter of pioneering projects with First Avenue. He affirmed that Oud will create a new ultra-luxury destination befitting the Bride of the Red Sea through the activation of the oud experience a concept offering distinguished, hotel-inspired services. He further noted that the company is committed to introducing additional innovative real estate products and crafting new destinations that will establish Oud’s projects as the premier choice in the market.
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