Emaar, The Economic City hosts Governor of Stockholm and business delegation on tour of KAEC

The delegation is exploring potential opportunities in the mega-project.

Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.C, welcomed the delegation, and presented an overview of the investment opportunities within KAEC.

Saudi Arabia is an important trade partner of Sweden in the Middle East, and the tour of the Stockholm County delegation is expected to boost inward investments to Saudi Arabia by leveraging on the growth opportunities offered by KAEC in several sectors.

Mr Al-Rasheed said:

"Saudi Arabia is one of the best markets in term of attracting foreign investments. Several international organisations are exploring the opportunities in Saudi Arabia. King Abdullah Economic City, as one of the prime drivers of socio-economic growth in the Kingdom, offers a vast array of business investment options."

He added: "The visit of the Swedish delegation will further energise inward investments to KAEC, especially in the Industrial Zone, which will complement Sweden's current exports to Saudi Arabia of machinery, telecommunication equipment, trucks & buses, pharmaceuticals and heating & cooling equipment. By establishing manufacturing bases within KAEC, Sweden can further add to their existing business in the region."

The visiting delegation toured the KAEC project site and evaluated the pace of ongoing construction. Work on various components within KAEC is currently being undertaken according to schedule.

Located on the Red Sea coast, the 168 million sq m KAEC has six key zones: The Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort Zone and Residential Communities. The first phase of the mega-project comprising the Sea Port, Industrial Zone and Residential Communities has been launched to overwhelming investor response. KAEC has already attracted SR130bn inward investments this year, particularly driven by the Industrial Zone.