Tuesday, October 14 - 2008

Emaar, The Economic City gains strong response for KAEC at Al Dhahran Real Estate & Housing Exhibition

Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), is showcasing the unique features of KAEC at the Al Dhahran Real Estate & Housing Exhibition being held until November 15.

  • Saudi Arabia: Wednesday, November 14 - 2007 at 07:30
  • PRESS RELEASE


Mr Zareb Saeed Al Qahtani, Acting Deputy Governor of Eastern Province, was presented a commemorative crystal plate displaying the KAEC gate by Emaar.E.C during the opening ceremony of the Al Dhahran Real Estate Exhibition.
Mr Zareb Saeed Al Qahtani, Acting Deputy Governor of Eastern Province, was presented a commemorative crystal plate displaying the KAEC gate by Emaar.E.C during the opening ceremony of the Al Dhahran Real Estate Exhibition.

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The KAEC stand is generating strong response from visitors, especially for the Bay La Sun Village residential project and industrial zone that have been launched for sale recently.

The exhibition was opened by the Acting Deputy Governor of Eastern Province, Mr Zareb Saeed Al Qahtani. The Emaar.E.C sales and marketing team presented him with a commemorative crystal plate displaying the KAEC gate. Emaar. E.C was also presented with a plaque of appreciation for their support to the exhibition.

'The Al Dhahran Real Estate & Housing Exhibition is an ideal platform to showcase King Abdullah Economic City to a wide audience. We have made rapid strides in demonstrating our commitment and gaining consumer confidence in the short time since work has begun on KAEC. We will continue the trend of adhering to the highest standards and thus make KAEC a truly world-class project,'



said Mr Nidal Jamjoom, Executive Director, Commercial Affairs, Emaar.E.C,

KAEC is the single largest private sector-led project in the region and has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Work is progressing according to schedule on the various zones. Investor response to the sales of the Bay La Sun Village residential units and leasing of land in the Industrial Zone have been overwhelming.




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Notes and media contacts

About Emaar the Economic City:
Emaar the Economic City (Emaar.E.C), established in September 2006, is a Saudi joint stock company managed by Emaar Properties PJSC, one of the world's largest property developers, and a number of high profile investors from Saudi Arabia. Emaar.E.C has a share capital of SR8.5bn consisting of 850m shares of nominal value SR10 each. Thirty per cent of the equity, worth SR2.55bn, was offered for public subscription.

Emaar.E.C leads the master-planning and development of the 168 million sq m King Abdullah Economic City (KAEC), a project being built on a pristine location off the Red Sea in the north of Jeddah. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for KAEC.

KAEC, a New Age City being built today for tomorrow's generation of Saudi citizens, has six components - sea port, industrial district, educational zone, central business district with commercial, mixed-use, retail outlets and financial island, resorts and residential area.

The mega-project works closely with the Kingdom's on-going drive to expand the economy, create employment opportunities for its youthful population and function as a catalyst to attract foreign investment, global trade, commerce and industry. Based on initial forecasts, the project and its several components will create up to one million employment opportunities in the various industries and service-oriented companies that will open in KAEC. It will also be home to 2 million residents.

For more information, please contact:
Bashar Kharbat / Saleh Al Hamamy
ASDA'A Public Relations
Jeddah, Saudi Arabia
Tel: (+966 2) 6575194/ 195/ 196
Fax: (+966 2) 6575277

Nivine William / Kelly Home
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide
in Middle East & North Africa
Dubai, UAE
Tel: (+971 4) 334 4550; Fax: (+971 4) 334 4556
Anne-Birte Stensgaard Posted by Anne-Birte Stensgaard, Senior News Editor
Wednesday, November 14 - 2007 at 07:30 UAE local time (GMT+4)

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