Mar 05 2010 |
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YPO members impressed with KAEC's rapid progress
JEDDAH: Members from the Young Presidents Organization (YPO) networked at King Abdullah Economic City (KAEC) in Rabigh, north of Jeddah, on Wednesday.The 22 members, who had come from 10 countries, were on a tour of the work in progress at the new city with the support of the Saudi Arabian General Investment Authority 's (SAGIA) Gov. Amr Al-Dabbagh and Fahd Al-Rasheed, CEO of the Tadawul-listed company developing KAEC, Emaar -- The Economic City .
In his presentation Al-Rasheed reviewed the progress of work at KAEC from 2007 and gave an update on residential units at Bay La Sun, land plots in the Industrial Valley, offices at the Business Park as well as retail space throughout the city.
Located in close proximity to Makkah, Madinah and Jeddah, KAEC seaport will serve more than 250 million consumers across the region. Peter Provenzano, director of supply core ME and YPO delegate, said: "The KAEC's vision of success is world class. The implementation that you've started is very impressive. So there is no doubt in my mind that the city will be successful, because Saudi Arabia has the resources to materialize this world class vision."
KAEC is coming to life as a large number of companies and organizations including Emaar have already started carrying out their daily operations in the city. The first wave of residents is settling down, becoming the core of KAEC's future communities.
© Arab News 2010
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