Jeddah, Saudi Arabia; January 17, 2007: Emaar the Economic City (Emaar.E.C) will welcome a high-level delegation of renowned experts from the prestigious Massachusetts Institute of Technology (MIT) to King Abdullah Economic City (KAEC) for developing the project as the most technologically advanced zone in the region and the first ‘Smart City’ in the world.
King Abdullah Economic City is the single largest private sector project in the region and will offer state-of-the-art infrastructure facilities at all its six components – the Sea Port, Industrial District, Central Business District featuring the Financial Island, Resort, Educational Zone and Residential.
“The visiting delegation from Massachusetts Institute of Technology, one of the world’s foremost knowledge centres, will review various aspects of the project and suggest solutions that will create a tech-savvy environment here, ideal for industries and businesses to thrive,” said Mr Mohamed Ali Alabbar, Chairman, Emaar.E.C. “MIT is the leader in research and design of IT-driven, technologically superior ‘Smart Cities’. Through our partnership, we can leverage on their learning and create a most-modern environment for the benefit of the Kingdom.”
Founded in 1865, MIT is a world-class educational institution that is independent, co-educational and privately endowed. Its five schools and one college encompass several academic departments, divisions and degree-granting programmes. It also has several interdisciplinary centers, laboratories and programmes. The organisation’s Mission Statement says it is committed to generating, disseminating, and preserving knowledge, and to working with others to bring this knowledge to bear on the world's great challenges.
The visiting delegation will assess the economic potential of the Sea Port and the creation of transport and other infrastructure; analyse the demographic aspects of KAEC being home to two million residents and having one million employees; evaluate the educational requirements and the development of the Educational Zone; and help create a digital nervous system for KAEC.
“KAEC will offer world-class infrastructure to its clients, and the creation of a ‘Smart City’ with the support of MIT is one of our key growth strategies,” said Mr Nidal Jamjoom, Chief Executive Officer, Emaar.E.C. “The project has already generated encouraging response from international investors and creating a hi-tech environment for them at KAEC will add value to their investment.”
KAEC, located on a greenfield site on the Red Sea coast, 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 also near to Jeddah.
