Emaar.E.C announces the work of KAEC in Saudi Arabia is as per schedule

Emaar.E.C announces the work of KAEC in Saudi Arabia is as per schedule
15-Apr-2007

Emaar, The Economic City (Emaar.E.C), a Saudi joint stock company managed by Emaar Properties, Dubai-based PJSC, has announced that work on King Abdullah Economic City (KAEC) is advancing as per schedule with construction ongoing on several key components. Currently, work is underway to build 1,040 apartments in the Red Sea Village, a Residential Community that will offer high standards for living and work. The Red Sea Village canal is nearing completion and tenders are being finalized for the Industrial Park infrastructure.

Nidal Jamjoom, CEO, Emaar.E.C, said, “As the first and largest Economic City in the Kingdom, KAEC sets the trend by creating a vibrant, mixed-use development that creates jobs in Saudi Arabia. We accord high priority to building the infrastructure alongside the various project components. KAEC is being developed as the first Smart City and tenders are being issued for laying down the Information and Communications Technology network. Contracts and design for coast link roads and other utilities are also being finalized”.

KAEC is expected to usher in a new era of economic prosperity to the Kingdom. It offers easy access to the two Holy Cities of Makkah and Madina and is near to Jeddah. The 168 million sq m real estate project on the Red Sea Coast has six key components, the Sea Port, Industrial Zone, Central Business District featuring the Financial Island, Resort District, Educational Zone and Residential Communities. The first phase of the project includes the Sea Port, Industrial Zone, Resort District and Residential Communities.