Emaar The Economic City (Emaar EC), established in 2006 as a Saudi joint-stock company, is a prominent player in the real estate development sector. Operating under the resolution of the Minister of Commerce and Industry, the company is headquartered in King Abdullah Economic City, focusing primarily on the comprehensive development of the same city. Led by CEO Cyril Piaia, Emaar EC is one of the leading property development companies in the Kingdom of Saudi Arabia. Its strategic objective includes investment in a diversified portfolio of high-quality real estate assets and offering a wide range of property-related services.
Emaar EC's include the master-planning of King Abdullah Economic City (KAEC), aimed at contributing significantly to the Kingdom's Vision 2030 and fostering socio-economic development. KAEC encompasses the Industrial Valley, King Abdullah Port, and a Unique City Living Experience.
Within KAEC, the residential sector is meticulously planned to include 250,000 apartments and 25,000 villas. The project envisions the construction of 120 hotels with over 25,000 rooms. The expansive retail section, covering 8.7 million square meters, is set to accommodate more than 50,000 shops. Situated along the Red Sea coast, KAEC will be intricately connected to Jeddah, Medina, and Mecca through the ongoing construction of the $13.7 billion Haramain high-speed railway.
Emaar EC operates through various subsidiaries, each contributing to different facets of real estate development and related services. Notable subsidiaries include Economic Cities Investments Holding Company (ECIHC), Emaar Knowledge Company Limited (EKC), Ports Development Company, Albilad Tourism Fund, Biyoutat Progressive Company for Real Estate Investment and Development, Economic Cities Real Estate Operation and Management Company Limited, Economic Cities Pioneer Real Estate Management Company Limited, Economic Cities Real Estate Development Company Limited, and Industrial Zones Development Company Limited.
Emaar The Economic City (Emaar EC) is a Saudi publicly traded firm founded in 2006 that has played a critical role in constructing the King Abdullah Economic City (KAEC). Emaar EC, one of the region's leading private real estate developers, has played a key role in making KAEC's vision a reality. The King Abdullah Economic City, located on the Red Sea coast, is a megaproject to drive economic diversification and increase the Kingdom's worldwide competitiveness.
Emaar EC's residential developments in KAEC offer a variety of housing alternatives, including villas, townhouses, and apartments, to suit a variety of lifestyles. These developments emphasise sustainability, modern facilities, and community well-being.
Emaar EC has played an important role in creating KAEC as a business hub by providing cutting-edge office spaces and commercial centres. These advancements help expand numerous industries and sectors in the city's economy.
The corporation has also concentrated on industrial zones and logistics centres, leveraging KAEC's unique location to promote trade and commerce. These activities align with Saudi Arabia's broader economic ambitions and Vision 2030.
Emaar EC's dedication to improving the quality of life extends to leisure and hospitality projects like hotels, resorts, and recreational facilities. These developments enhance KAEC's appeal as a destination for residents and visitors.
As part of its corporate social duty, Emaar EC actively participates in initiatives promoting sustainability, community development, and cultural enrichment. Emaar EC's dynamic and diverse portfolio continues to transform the landscape of King Abdullah Economic City, supporting the Kingdom's economic success and Vision 2030 goals.
Emaar Economic City plays a crucial role in the international relations landscape as a key destination in Saudi Arabia's economic development strategy. The city attracts multinational and Saudi companies across various sectors owing to the facts that it is anchored by King Abdullah Port, recognised as the most efficient port globally by the World Bank, and the KAEC Industrial Valley.
Its strategic location along the Red Sea coast, complemented by connectivity to major transportation networks like the Haramain high-speed railway and Saudi National Highways, positions KAEC as a vital node in the Red Sea economic corridor. Through fostering diverse economic activities from logistics to manufacturing, KAEC contributes significantly to Saudi Arabia's Vision 2030 objectives, focusing on attracting foreign investment, boosting tourism, and advancing non-oil exports.
Beyond its economic significance, KAEC offers a modern leisure and tourism district, featuring pristine coastlines, upscale hotels, and world-class amenities like the Royal Greens international tournament golf course. With over 1 million visitors in 2021 and a growing population of full-time residents and second homeowners, KAEC is not only a thriving business hub but also a vibrant lifestyle destination.
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