RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization has announced that the cities of Madinah, King Abdullah Economic City (KAEC), and Al-Ahsa in the Kingdom have joined the UNESCO Global Network of Learning Cities. With this development, Saudi Arabia now boasts five cities enlisted in the...
SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two agreements with Emaar, The Economic City (EEC) which is the main developer of King Abdullah Economic City (KAEC). The agreement was signed in the presence of Saudi Arabia Minister of...
Emaar EC and Orascom to develop tourism destination
Dubai, UAE -- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has signed a strategic agreement with Orascom Development and Managment and Alkholi Holding Company to develop a waterfront mix-use destination in KAEC. This initiative aims to enhance the city's position as a family gateway to...
Lucid Group opens Saudi Arabia’s first-ever car manufacturing facility
Jeddah, Saudi Arabia - Lucid Group, which is partially owned by the Public Investment Fund, launched Wednesday its first international factory in Jeddah-based King Abdullah Economic City (KAEC). The manufacturing unit extends over an area of more than 1.35 million square meters, occupying about 31% of the total area allocated...
Gulf countries build on unprecedented megaprojects
Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States, a latest report highlightsEmaar EC inks $16m contract
Emaar EC signed the $16-million contract with SAFE.
PIF acquires 25 percent stake in EEC
Under the deal, EEC transferred part of its loan to PIF in exchange for company shares.
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital.
