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King Abdullah Economic City


mcheiss

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Emaar, a Dubai-based developer, and the Saudi government have unveiled a massive $26.6-billion project to build a residential and commercial complex near Jeddah in Riyadh . The project will be called the King Abdullah Economic City.

The project is the single largest private sector investment in Saudi Arabia.

The Saudi government has earmarked a 55 million sq m greenfield land and a 35-km shoreline close to the industrial city of Rabegh for the development.Included in the project is a new port, an industrial park, a 3,500-unit residential and hotel complex and a facility that will serve up to half-a-million pilgrims arriving by sea each year on their way to the holy city of Makkah.

The King Abdullah Economic City will be a multi-stage development, with construction beginning tomorrow. The announcement of the

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Groundwork for the King Abdullah Economic City started today.

The port is the first area of the development that will be constructed on, then with other areas such as residential following quickly. The overall project will be done in stages with the first batch of businesses and residents moving into the City within 3 years.

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