KAEC launches summer residential offering

Residential communities in KAEC offer a direct view of the Red Sea.
Updated 10 August 2019

KAEC launches summer residential offering

In line with the strategy to enhance the quality of life on its beaches, King Abdullah Economic City (KAEC) has announced the launch of its summer residential offering under the slogan “Own a Turquoise View and Get a Car Free.” 

The offer is valid until Aug. 31. The live-by-the-sea campaign, launched for the first time ever, offers a free car upon purchasing a residential unit, with flexible payment plan over the course of five years with zero interest, and only 20 percent down payment.

“The residential communities in KAEC offer a collection of lifestyle elements and amenities which is unprecedented for any developer in Saudi Arabia, especially for those seeking entertainment, relaxation and rejuvenation with a direct view of the Red Sea and within a progressive, private and safe environment supported by technologically advanced infrastructure and world-class amenities,” said Charles Biele, CEO of KAEC’S Real Estate Development Company. 

The campaign offers families and investors a wide range of housing solutions, making homeownership possible for all Saudi citizens, as well as an enriching lifestyle in KAEC and helping realize Saudi Vision 2030.

Residents enjoy a variety of exclusive and luxurious lifestyle experiences and benefit from KAEC’s numerous facilities, which include waterfront dining options, retail outlets, health care, security, mosques, the highest quality schools, world-class universities and a number of luxury sporting and recreational facilities.

The KAEC is the largest privately funded new city in the world. Situated on the west coast of the Kingdom, KAEC covers an area, approximately the size of Washington, DC. KAEC comprises King Abdullah Port, the Coastal Communities residential districts, the Haramain Railway district and the Industrial Valley. The city is under development by Emaar, The Economic City.


Zain KSA celebrates key 5G milestone

Updated 44 min 44 sec ago

Zain KSA celebrates key 5G milestone

Zain KSA celebrated the finalization of the first phase of the Middle East’s largest 5G network in a special event on Dec. 8 at the Hilton Riyadh. The ceremony, held under the patronage of Minister of Communications and Information Technology Abdullah bin Amer Al-Sawaha, was attended by Zain KSA Chairman Prince Nayef bin Sultan bin Muhammed bin Saud Al-Kabeer, Governor of Communications and Information Technology Commission Dr. Muhammed bin Saud Al-Tamimi, Deputy Minister of Communications and Information Technology Haitham bin Abdulrahman Al-Ohali, and Zain KSA CEO Sultan bin Abdul Aziz Al-Deghaither, along with other dignitaries in the ICT sector.

Prince Nayef said: “Zain KSA’s achievement accompanies the speedy development and innovative services of the digital revolution that the world around us is witnessing. This achievement is significant in its timing, as it coincides with the rapid rise of the Kingdom’s ranking in several prestigious international reports, specifically in the ICT sector. Another aspect that makes this achievement noteworthy is its size, as it offers the broadest coverage of the 5G network, which has positioned the Kingdom as the first in the Middle East, Europe and Africa.”

Prince Nayef pointed out the concurrence of Zain KSA’s accomplishment with the Kingdom’s growing pivotal role at the global economic level, and in becoming the first Arab country to preside over the G20 summit. He affirmed Zain’s commitment to keeping pace with the Kingdom’s economic ambitions in line with its position in employing young national talent. He said the Saudization rate in the company has reached 86 percent, with young Saudis assuming 92 percent of leadership positions.

CEO Al-Deghaither said through its completion of the first phase of the 5G network, Zain KSA confirms its commitment to becoming a key player in the ICT sector. “Zain KSA has made several significant achievements since its inception. Today, we proudly announce that the company has the widest 5G network coverage in the Kingdom and the region.” 

He added that the 5G technology will lead the Kingdom toward a new world with its substantial technologies and capabilities, which will be evident in various sectors through the Internet of Things and the business sector, in addition to other daily functions that will make customer experience easier and more effective.”

Al-Deghaither said that this step comes at a time when Zain KSA is witnessing its best operational performance by reaching the highest profit over the past two years, with SR380 million ($101.3 million) during the first nine months of 2019, and a total of SR332 million for 2018.

With the completion of the first phase of the 5G network, Zain KSA is now offering a range of packages of 5G services for individuals and businesses through a network of 2,600 towers distributed across 27 cities.