Emaar, The Economic City hosts new US Consul General on tour of King Abdullah Economic City

Mr. Joseph Killar, Chief Operating Officer, and Dr. Hosam Joma, Executive Director-Projects, Emaar.E.C, welcomed Mr Quinn and Ms Kanarek, and presented a detailed overview of the 168 million sq m mixed-use project and the various investment opportunities offered at its six key components - the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities. The visit was aimed at enhancing awareness about KAEC as an attractive investment destination for American companies.

Mr. Quinn said:

"KAEC is at the forefront of ushering in a new era of industrial and economic growth to the Kingdom and is a truly world-class project. As a major trading partner of the US, Saudi Arabia is a preferred investment destination for American companies."

Mr. Killar said: "The US is one of the major trading partners of Saudi Arabia, and KAEC offers a strong investment platform for American companies looking to expand and consolidate their operations in the Middle East region. Saudi Arabia has been ranked one of the top destinations to do business, and KAEC complements the Kingdom's competitiveness by offering advanced infrastructure, Smart City capabilities and smooth logistics. We are delighted to host Mr. Martin Quinn and Ms Deborah Kanarek on the tour of KAEC."

Mr Killar added: "KAEC offers attractive investment opportunities in sectors as diverse as real estate, hospitality, industries, manufacturing, plastics, education, finance and sea port, among others. The US companies have a broad base in all these sectors, and can leverage on Saudi Arabia's competitiveness to expand business cost-effectively. Such outward looking growth objectives will also help them to meet the challenges posed by the current financial crisis."

Emaar.E.C has launched the first phase of KAEC to overwhelming investor response. Work is on-going and the project will be handed over in phases during 2009.