KAEC making significant progress; Industrial Valley begins second phase of leasing

KAEC making significant progress; Industrial Valley begins second phase of leasing
Updated 30 July 2012

KAEC making significant progress; Industrial Valley begins second phase of leasing

KAEC making significant progress; Industrial Valley begins second phase of leasing

Emaar, the Economic City, has begun spearheading the second phase of land leasing in the Industrial Valley within King Abdullah Economic City (KAEC).
“We have achieved significant progress and have signed land lease agreements during our first phase with a large number of local and international investors,” Ahmed Linjawi, president of the city services and industrial division and a member of the corporate management team at Emaar, the Economic City, said.
He stated that leasing agreements had been signed with companies such as Total, Mars, Pfizer, Sanofi-Aventis, Saudia Catering Company, Almarai, Olayan Group and Rajhi Steel.
“Our achievements in the Industrial Valley are expected to create 12,000 jobs by 2015. We have been working hand in hand with training and development programs that will be provided by the economic city through cooperation with many government and private organizations,” Linjawi explained.
Other achievements concerning the progress of KAEC include a number of completed infrastructure projects including the city's power, water and sewage networks and more than 50 kilometers of roads within KAEC.
“We have opened the second phase of the four bridges overlooking the water canals in the Bay La Sun residential district. KAEC has created huge potential for investment in projects to complete its infrastructure, and furthermore, we believe that it will become the region's foremost business and investment hub for local and foreign investors,” Linjawi said. In addition to the completion of the infrastructure service facilities, other significant milestone projects within KAEC are either completed or very near completion, according to the Emaar executive. These include the residential apartments, commercial business towers, as well as the retail and leisure facilities within the Bay La Sun district.
“Provisions for essential services are also underway, such as for medical services, supermarkets, pharmacies and restaurants, to cater for the residents and visitors alike.” He added that the Bay La Sun Hotel and Marina were also near completion. The latter will include a promenade that provides access to the Marina and Marina Lifestyle Options from December 2012. The Economic Cities Authority (ECA) building, which currently caters for the employees of KAEC, will also soon be inaugurated.
Linjawi continued that another recent success was Al-Talah Gardens, which provides residential land plots at competitive prices within a fully integrated work-live environment.
“All plots in phase one and two were sold out within just a few hours of the launch, and now we are gearing up for the launch of phase three,” he commented.
Linjawi concluded that the progress at KAEC could not have been possible without government allocations of gas and other power resources.
“The fuel allocations given to KAEC ultimately prove how the government is giving us all assistance to make fast progress. Government support and nation-level development plans have always been our catalyst for success,” he said.