JEDDAH, 22 May 2008 — Makkah Gov. Prince Khaled Al-Faisal yesterday expressed his confidence in the overall progress of the King Abdullah Economic City (KIEC) in Rabigh, north of Jeddah.
“The mega project’s overall progress is exemplary and its potential to contribute to the socio-economic prosperity of the Kingdom is vast,” Prince Khaled remarked during his visit to the city. The governor’s visit was also marked by the launch of Esmeralda Suburb, the first townhouse and golf community of the KAEC. The city’s construction is in full swing.
The governor went around in a bid to evaluate the project undertaken by Emaar, The Economic City (Emaar.E.C).
Prince Khaled was welcomed by Saudi Arabian General Investment Authority (SAGIA) Gov. Amr Al-Dabbagh. SAGIA is the prime facilitator of KAEC. Fahd Al-Rasheed, board member and CEO, Emaar.E.C, give a video presentation of the ongoing construction and overall plan of the KAEC. Jeddah Mayor Adel Faqeeh, Rabigh Gov. Taha Omar Al-Ghanimi, and senior officials and business leaders were among those present.
Prince Khaled, who was also briefed on the launch of the Esmeralda Suburb, the first townhouse and golf community in KAEC, congratulated the team members working on the project. Spread over 160,000 sq. m., Esmeralda Suburb is a fully integrated neighborhood with schools, retail centers, health and fitness facilities and a range of leisure amenities. The villas are strategically placed in clusters of two, four, six and eight, thus offering greater privacy for residents while assuring a sense of community living.
“King Abdullah Economic City complements the vision of Custodian of the Two Holy Mosques King Abdullah to energize the local economy through strong developmental initiatives. The visit of Prince Khaled reiterates the interest of the Kingdom in KAEC, which is poised to usher in a new era of socio-economic prosperity,” Al-Dabbagh said.
“The visit of Prince Khaled comes during one of the most dynamic developments in the evolution of KAEC. Work of several components is progressing on schedule and the launch of residential communities is gaining an overwhelmingly strong investor response. KAEC is now regarded as one of the most attractive investment destinations by global investors,” Al-Rasheed said.
Located on the Red Sea coast on 168 million sq.m., KAEC has six components —- the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities. Esmeralda Suburb is part of the residential communities. The first phase of the project has been launched to strong investor response and work is progressing as per schedule.
