King Abdullah Economic City hosts Taiwanese delegation

Jeddah, Saudi Arabia; February 28, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), hosted an official government and business delegation from Taiwan, recently. The delegation led by Mr Hsieh, Fa-Dah, Taiwan’s Vice Minister of Economic Affairs, and Mr Liao, Hao-chih, Second Economic Secretary of Economic Affairs, toured KAEC and evaluated various investment opportunities offered by the mixed-use development. 

Mr Fahd Al-Rasheed, CEO, and Eng. Nidal Jamjoom, Executive Director – Commercial Affairs, Emaar.E.C, welcomed the delegation comprising government and economic officials specializing in communications and technology. 

After presenting an overview of the investment opportunities available in KAEC and the significant progress made on the project, Mr Hsieh, Fa-Dah expressed primary interest in signing a Memorandum of Understanding regarding potential investment. 

Mr Al-Rasheed said: “The Taiwanese delegation expressed strong interest in investing in the various high-growth opportunities offered by KAEC. We also discussed various initiatives that could lead to several investment, industrial, commercial and service contracts to be executed in KAEC in the near future.”

KAEC has six key components - the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Construction of the first phase including the Industrial Zone, Sea Port, Resorts and Residential Communities is currently progressing according to plan. Sales of residential units and the leasing of the industrial plots have been gaining strong investor response.