King Abdullah Economic City hosts the Ambassador of Spain to Saudi Arabia

Jeddah, Saudi Arabia; March 13, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), recently, welcomed a delegation of government officials and entrepreneurs from Spain. The delegation, led by the Ambassador of Spain to Saudi Arabia, Mr Manuel Alabart, assessed the investment opportunities offered by the 168 million sq m mixed-use development.

Mr Fahd Al-Rasheed, CEO, Emaar.E.C along with other senior executives welcomed the delegation and presented an overview of the six key components of KAEC, and the investment opportunities in each sector. The delegation strongly expressed interest in further exploring investment options in various sectors within KAEC.

Mr Al-Rasheed said: “KAEC is the single largest private sector development in the region and plays a key role in attracting foreign investment to the Kingdom. There is strong international business interest to our project, as has been highlighted by the visit of the Spanish delegation. The varied spread of facilities within KAEC ensures that different businesses can find an ideal growth environment that suits their objectives.”

The six key components of KAEC are - the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities.