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The visiting delegation at KAEC.

KAEC highlights tourism potential to Arab envoys

KAEC, May 12, 2015

Saudi Arabia's King Abdullah Economic City (KAEC) recently hosted a special visit by the Ambassadors and Consuls of the Arab countries to introduce its latest economic and tourism projects.

The event was organised in collaboration with the Arab Tourism Organization, an affiliate of the League of Arab States, for the dignitaries and their families, for three days in the Bay La Sun Hotel and Marina.

KAEC highlighted its advantages and opportunities that include modern services, global standard infrastructure, and promising investment environment.

The diplomatic delegation was received by Fahd Al-Rasheed, Group CEO and managing director of KAEC, and Ahmed Linjawy, deputy chief executive officer, as well as other senior executives from KAEC.

Linjawy gave a detailed account of the city’s progress and presented a documentary film that includes the most important achievements and developments that have been completed.

He pointed out that the city is one of the largest and most important economic projects run by the private sector in the Middle East, on an area of 181 million sq m, and is being developed to become an integrated city that benefits from a promising investment environment designed to enhance the global competitiveness of the Saudi market.

He added that the City comes with a long-term strategy plan adopted by our wise government to diversify the national economy and reduce dependence on oil as a source of the national income.

Al-Rasheed said: "This visit comes at a time when the KAEC is experiencing a rapid growth in various sectors and development projects. The delegation’s visit today gives us a great opportunity to show the latest progress of the city, and demonstrate our efforts to achieve the vision of an economic, social and tourism streams with modern specifications that contributes to the development of the national economy and ensure the prosperity of future generations.”

During the second day, the delegation visited the city’s different components and listened to an illustrative explanation about the advanced status of developments, describing the increasing number of residential products sales at the Coastal Communities that fit all income levels, where it provides an integrated urban environment that achieves residential, commercial, industrial and social integration.

KAEC offers investment opportunities in all these sectors, with direct link of King Abdullah Port where transshipment operations started in 2013 and is on the way to becoming one of the ten largest ports in the world at the Red sea.

This makes it a global destination for logistics services, and an access point to 250 million consumers in the Mena region, in addition to the Haramain High Speed Train stations and the land bridge. The delegation also visited the industrial valley and witnessed first-hand the growing pace in attracting local and international investors, which have exceeded 93 industrial companies, emphasizing the city’s continual efforts in providing job opportunities for national cadres. – TradeArabia News Service




Tags: King Abdullah Economic City | KAEC |

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