Emaar EC unveils progress of KAEC projects

Emaar Economic City (Emaar EC) announced the latest developments of its projects at King Abdullah Economic City (KAEC) up until the end of fourth quarter 2014.

Most of the company’s investments are still focused on infrastructure and basic services; the most notable of which are the King Abdullah Port and the Industrial Zone.

Emaar aims to lure factories, commercial and service facilities to the City. This will motivate residents to move to KAEC and will also increase demand for Emaar’s real estate and service products, the developer said.

“Projects are marching ahead as scheduled,” according to the company’s statement to Tadawul, Saudi Arabia’s bourse.

Emaar added that its strategic plan is now focused on six points. The company will maintain development and construction at KAEC, with special emphasis on the Port and Industrial Valley. It will maintain attracting more institutions and corporates to the City and offer residential products tailored for all social classes.

In addition, Emaar will diversify its real estate product mix and form more strategic partnerships with the private and public sectors. It will use optimum methods needed to manage and operate the Economic City.