King Abdullah Economic City hosts region’s leading real estate developers

Jeddah, Saudi Arabia; August 5, 2008: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), recently, hosted a workshop for the region’s leading real estate developers to highlight the development opportunities in the 168 million sq m mixed-use mega-project. 

Mr Osama Alsenan, Executive Director - Sales, Emaar.E.C, and Mr Hazem Kamel, Manager – External Agents of Real Estate Properties Sales, Emaar.E.C, welcomed the guests – representing more then 350 top developers in the GCC region. They presented an overview of the six key components of KAEC, and the investment opportunities in each sector. The developers were also briefed on the progress of the project and the international standards of development employed by Emaar.E.C.

Mr Alsenan said: “KAEC offers a wealth of development opportunities from residential to commercial, retail and hospitality & leisure, and we highlighted these to the visiting team of real estate developers. The objective of the workshop was to familiarise them with the project and encourage them to explore the opportunities presented in all sectors of KAEC among a healthy environment for investments.”

Located on the Red Sea Coast, KAEC has six zones: 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. Emaar.E.C also launched the sale of residences and commercial space to overwhelming investor response.