Jeddah, Saudi Arabia, February 18, 2007: King Abdullah Economic City (KAEC), the path-breaking development by Emaar the Economic City (Emaar.E.C), has opened investor registration for its Industrial Zone. The first phase of the 63 million sq metre zone dedicated to industries will be launched soon and potential investors can register on-line at www.kingabdullahcity.com
One of the six components of KAEC, the Industrial Zone is designed solely with the needs of manufacturers in mind. To be one of the largest industrial parks in the region, the Zone offers investors the option of building from the ground up on a fully-serviced site or the choicest premises built to the highest specifications.
“As one of the key sectors of diversification, industries have brought about a considerable shift to the Kingdom’s economy by generating employment to millions of Saudis,” said Mr Nidal Jamjoom, Chief Executive Officer, Emaar.E.C. “KAEC’s Industrial Zone is a perfect fit for the Kingdom’s industrial growth and offers several distinctive advantages.”
The 168 million sq m King Abdullah Economic City is the single largest private sector development in the Kingdom, and is located on the Red Sea coast. The Industrial Zone, in close proximity to Jeddah, enjoys a strategic location advantage. The 13.8 million sq m Sea Port, which is a key part of KAEC and the largest in the region, will offer the Industrial Zone logistical advantages of immense value.
“The significant advantage of the Industrial Zone at KAEC is the infrastructure support it will offer to industries,” added Mr Jamjoom. “Poised to be world’s first ‘Smart City,’ KAEC will offer advanced information and communications technology support to industrialists. KAEC will feature several firsts in terms of ‘smart city’ management by offering a safe environment that is ideal for sustained growth. A fully integrated transport system will be an added benefit to investors.”
The Industrial Zone will have specific initiatives to encourage local entrepreneurs through incubator-like modules. International experts have already been consulted – and will work hand-in-hand with Emaar.E.C management – to ensure that the development is in line with the best environmental practices.
With the Saudi Arabian General Investment Authority (SAGIA) as the project’s prime facilitator, KAEC has the potential to create one million jobs. The mixed-use development with commercial, residential, industry and hospitality components is expected to be home to over two million people.
The other components of KAEC are: the Central Business District, which will have office space and mixed-use components and a central Financial Island with a 125-storey tower; the Educational Zone; the Resort District; and the Residential Zone.
Work on KAEC is progressing on schedule. The Presentation Centre will be officially opened soon, and access roads to the project have been completed.
