Jeddah, Asharq Al-Awsat- Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC) has contracted Saudi Binladin Group to build the first residential apartments at the development.
Dr Abdulraouf Al Mannaa, Managing Director, Emaar.E.C, and Eng Omar M. Binladin, President, Saudi Binladin Group, yesterday, signed the contract to build the first residential facilities at KAEC which will include 1,040 modern apartments with all supporting services and landscaping.
“We are finalizing the various contracts that would help us realize this mega-project, which ushers in a new era of economic prosperity for the Kingdom,” said Dr Al Mannaa. “Saudi Binladin Group has proven expertise in projects that demand efficiency in terms of build quality and timely delivery. Our partnership also marks our commitment to the Kingdom to work with home-grown companies that can match any international company in terms of expertise and skills.”
Eng Omar Binladin added: “KAEC is one of the largest private sector projects in the Kingdom of Saudi Arabia, and it is an honor to partner in this mega project. As a Saudi company, our association with KAEC also highlights our involvement in supporting the Kingdom’s economic growth.”
KAEC sprawls over 168 million sq m and is located on the Red Sea coast. It has six key components – the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities.