Emaar, The Economic City highlights global investment opportunities in KAEC at Global Competitiveness Forum 2009

The forum is organised under the patronage of the Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud.

GCF 2009 is being held from January 25 to 27 at Four Seasons Hotel in Riyadh, and will discuss diverse aspects of the Saudi economy with a focus on the role of construction and real estate companies in building a competitive economy.

Emaar.E.C is showcasing the diverse investment options within the six key components of KAEC including the Sea Port, Central Business District, Industrial Zone, Educational Zone, Resort District and Residential Communities.

The partnership of Emaar.E.C at GCF 2009 complements the efforts of the Saudi Arabian General Investment Authority (SAGIA) - the prime facilitator of KAEC - which works towards promoting foreign investments in line with its Vision 10 x 10 to make Saudi Arabia one of the top 10 most competitive nations in the world.

Mr. Fahd Abdul Mohsen Al Rasheed, Board Member and Chief Executive Officer, Emaar.E.C, said:

"The Global Competitiveness Forum 2009 comes following the announcement that Saudi Arabia has been placed 16th in the world for international competitiveness by the World Bank. The real estate and construction sector has played a key role in attracting foreign investment to the Kingdom. KAEC, as the single largest private sector development in the region, has been driving investments in several high-growth sectors, thus adding value to the economy."

He added: "Our participation in GCF 2009 presents an opportunity for us to showcase our capabilities and the potential offered by KAEC for investors from around the world. The event will serve as a platform to strengthen investor interaction and highlight the contribution of KAEC to the investment climate of the Kingdom."

The GCF 2009 will discuss varied aspects of the real estate and construction sector including aspects of how they enhance the competitiveness of other sectors, and their socio-economic importance. This is in line with the development ethos of KAEC to create a fully integrated community with residential, commercial, industrial, hospitality, retail, educational, healthcare and ICT components. This integrated approach enables KAEC to contribute to the growth of other key economic sectors.

KAEC is currently progressing as per schedule with work being undertaken round-the-clock. The first phase of the mega-project has been launched to overwhelming investor response, and the first homes and industrial plots will be handed over in March this year.