| Country |
: |
Saudi Arabia |
| Project Value |
: |
USD 27,000,000,000 Estimated |
| Sector |
: |
Real Estate | Free Zones/Economic Zones |
|
Consultants |
: |
LJA Engineering
(Detailed design) |
Saudi Consulting Services
(Design - infrastructure) |
Skidmore Owings and Merrill (SOM)
(Design) |
WATG
(Design) |
|
PMC |
: |
Turner International Middle East
|
|
Contractor |
: |
CEMCCO - Civil and Electromechanical Construction Company
(Infrastructure ) |
| Profile Type |
: |
Master Project
|
| Associated Projects |
: |
Contract (8) |
|
Phase:
Construction - Execution
|
|
Completion: 2026
|
|
|
|
| Background |
The Saudi Arabian General Investment Authority (SAGIA)Saudi Arabian General Investment Authority (SAGIA) plans to develop King Abdullah Economic City (KAEC) on the Red Sea between Jeddah and Rabigh by Emaar the Economic CityEmaar the Economic City.
The new economic city will cover a 168 million sq. m. site, with a 35 km beachfront.
The project will be developed in 4 phases and it will include a sea port, an industrial zone, a residential district, a financial island, an educational zone and a waterside resort.
Once completed, the city will accommodate 2 million people.
The project is among the 6 cities that Saudi Arabian General Investment Authority plans to develop in Saudi Arabia.
Parsons International is the infrastructure consultant, LJA engineering is the detailed design consultant, and WATG and Skidmore, Owings & Merrill (SOM) are the design consultants and Turner International Middle EastTurner International Middle East is the PMC. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| Dec 2013 |
Completion | Hawadi development expected to be completed.. | | 2020 | Completion | Sea port expected to be completed | | 2023 | Completion | Industrial zone expected to be completed. | | 2026 | Completion | Project expected to be completed
|
|
| Latest Events |
In February 2012, the construction work for the other parts was still ongoing.
In December 2013, Hawadi development is expected to be completed.
In 2020, Sea port is expected to be completed.
In 2023, Industrial zone is expected to be completed.
In 2026, the project is expected to be completed. |
| Previous Events |
In January 2012, the construction work of the water canals was completed.
In September 2011, Emaar terminated the contract with Al Redwan.
March 2010, the infrastructure works at the Sea Port were completed.
In Q4 2009, infrastructure works started.
In December 2008, construction contract of 134 villas (USD 86.7 million) was awarded to Al-Redwan CompanyAl-Redwan Company.
In September 2008, infrastructure contract of the resorts area (USD 53.4 million) was awarded to Cemcco.
In February 2008, the contract construction of a potable water network, irrigation and firewater network, a sewage network, 2 sewage pumping stations, irrigation tanks, pump rooms, an electrical substation, MV power cable network, street lighting, telecommunication ducts and roads (USD31 million contract) was awarded to Cemcco.
In May 2007, design for infrasturcture of phase 1 was completed.
In Feb 2007, design for infrastructure of phase 1 started by Saudi Consulting ServicesSaudi Consulting Services (SaudConsult).
In H1 2006, Emaar the Economic City (EEC)Emaar the Economic City (EEC) announced that it has started land and site work operations.
In 2005, the project was launched. |
| Scope of Work |
Construction of:
- Seaport (13.8 million sq.m capacity to handle over 10 million TEU's and 300,000 piligrims each season)
- Industrial district (63 million sq.m.)
- Financial island (500,000 sq.m)
- Resorts (4.05 million sq.m)
- Residential area (350,000 sq.m, 260,000 apartments and 56,000 villas)
- Educational Zone |
| Financing Source |
In July 2006, Emaar the Economic City (EEC)Emaar the Economic City (EEC) underwent an IPO offering 30% of its shares on the Saudi Stock Exchange (Tadawul)Saudi Stock Exchange (Tadawul).
EECEEC announced that the IPO reached more than USD1.33 billion (SAR 5 billion) Islamic facility, which is double the initial offering amounting to USD680 million (SAR 2.55 billion).
HSBCHSBC is the financial adviser for the infrastructure and SABBSABB is the IPO lead manager. |
| Contract Packages |
| Type |
Project Name |
Contract Value |
 |
EEC - KAEC Desalination Plant |
USD 75,000,000 |
|
EEC- KAEC Power Generation Grid |
- |
|
EEC- KAEC Power Plant |
- |
|
SAGIA - King Abdullah Economic City (KAEC) - Hawadi Development |
- |
|
SAGIA - King Abdullah Economic City (KAEC) - Phase 1 |
- |
|
SAGIA - King Abdullah Economic City (KAEC) - Phase 1 - Industrial Zone |
USD 6,000,000,000 |
|
SAGIA - King Abdullah Economic City (KAEC) - Phase 1 - Sea Port |
USD 26,600,000,000 |
|
SAGIA - King Abdullah Economic City (KAEC) - Water Canals |
USD 66,000,000 |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| 2005 |
Announcement | Project launched
|
| H1 2006 |
Construction | Land and site work operations started
|
| Feb 2007 |
Design | Design for infrastructure of phase 1 started by Saudi Consulting ServicesSaudi Consulting Services
|
| Jun 2007 |
Completion | Design for infrastructure of phase 1 completed
|
| Feb 2008 |
Construction | Contract awarded to CEMCCO
|
| Dec 2008 |
Construction | Construction contract of 134 villas awarded to Al-Redwan CompanyAl-Redwan Company
|
| Q4 2009 |
Construction | Infratsruture works started
|
| Mar 2010 |
Construction | Infrastructure works at Sea Port completed
|
| Jan 2012 |
Completion | Construction of the water canals completed
|
| Dec 2013 |
Completion | Hawadi development expected to be completed..
|
| 2020 |
Completion | Sea port expected to be completed
|
| 2023 |
Completion | Industrial zone expected to be completed.
|
| 2026 |
Completion | Project expected to be completed
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Free Zones/Economic Zones 
Talk To Zawya Analyst
Download to PDF