HRH Prince Khalid AlFaisal visits King Abdullah Economic City

Jeddah, Saudi Arabia; May 21, 2008: His Royal Highness Prince Khalid AlFaisal, Governor of Makkah Al-Mokarramah region, visited King Abdullah Economic City (KAEC) and evaluated the project developed by Emaar, The Economic City (Emaar.E.C). He expressed confidence in the mega-project’s overall progress and its potential to contribute to the socio-economic prosperity of the Kingdom. 

HRH Prince Khalid AlFaisal was welcomed by HE Mr Amr Bin Abdullah Al-Dabbagh, Governor, Saudi Arabian General Investment Authority (SAGIA), the prime facilitator of KAEC; and Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.C, in the presence of His Highness Eng. Adel Mohammed Faqeeh, Mayor of Jeddah, His Highness Mr Taha bin Omar bin Mobaireik Al Ghanmi, Governor of Rabigh, senior officials and business leaders. 

HRH Prince Khalid was also briefed on the launch of Esmeralda Suburb, the first townhouse and golf community in KAEC. He congratulated the team members working on the project. Spread over 160,000 sq m, Esmeralda Suburb is a fully integrated neighbourhood with schools, retail centres, health & fitness facilities and a range of leisure amenities. The villas are strategically placed in clusters of 2, 4, 6 and 8 thus offering greater privacy for residents while assuring a sense of community living. 

Mr Al-Dabbagh said: “King Abdullah Economic City complements the vision of The Custodian of the Two Holy Mosques King Abdullah Bin AbdulAziz Al Saud to energise the local economy through strong developmental initiatives. The visit of His Royal Highness Prince Khalid AlFaisal reiterates the interest of the government in KAEC, which is poised to usher in a new era of socio-economic prosperity.”

Mr Al-Rasheed added: “The visit of His Royal Highness Prince Khalid comes at one of the most dynamic stages in the evolution of KAEC. Work of several components is progressing on schedule and the launches of residential communities are gaining overwhelming strong investor response. KAEC is now regarded as one of the most attractive investment destinations by global investors.”

Located on the Red Sea coast on 168 million sq m, KAEC has six components: the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities. Esmeralda Suburb is part of the Residential Communities. The first phase of the project has been launched to strong investor response and work is progressing according to schedule.