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Marketing experts research new ways to boost investment climate in King Abdullah Economic City

Studies to further expand housing solutions for mid income segment
King Abdullah Economic City, April 24^th, 2011 - Emaar, The Economic City (EEC) , the Tadawul-listed company developing King Abdullah Economic City (KAEC), recently announced the renewal of its agreement with Elixir Business Consultancy. Scope of the contract is to continue researches and marketing strategy development initiated in 2010. Objective of the engagement is to help Emaar The Economic City develop value propositions for its key stakeholders as well as promote the social/investment climate in KAEC by ensuring the ultimate consumers of its products and services are properly represented in the development process. Whether the consumer is an investor in EEC stock, a major project developer, a job seeker, or a potential resident, Elixir's role is to ensure their key purchase drivers are understood and incorporated in the value proposition.

The signing of this agreement forms another milestone for EEC 's main goal of pursuing King Abdullah Economic City's vision to be a social, economic enabler for the Kingdom of Saudi Arabia. EEC will benefit from Elixir's team of marketing and research Consultants and Specialists to design and conduct researches with KAEC's various stakeholders. The aim is to qualify value propositions for the city which are highly attractive to major investors from various local and international industries, as well as diverse residential & commercial offerings. Many of these well studied products and services will be launched to the market in the near future.

Mr. Fahd Al Rasheed, Managing Director & CEO of Emaar The Economic City ( EEC ), commented on this occasion: "We, at EEC , are pursuing a vision of making KAEC the socio-economic enabler of Saudi Arabia. To achieve this ambitious vision, we have put the end user at the heart of the value equation. We are designing products and services starting with the consumer in mind. What would an industrialist need to open up a major manufacturing facility at KAEC and provide thousands of new jobs, what would a real estate developer need to develop mid income housing at KAEC and fill the huge need in the market, what would a family need to move to KAEC and thus develop areas outside of the major KSA cities.. Elixir has helped us better understand each of these segments and many others." Mr. Al Rasheed added: "It has really been a pleasure to see a local company produce such an outstanding work. We have worked with many international consultants, but I can confidently say that local companies such as Elixir have the capabilities to compete. In fact, they have the edge of having a much deeper understanding of the consumer and drivers of behavior which a foreign company would not be able to discover or understand."

Mr. Hani Ibrahim Khoja, Managing Partner of Elixir Business Consultancy stated: "Working on the King Abdullah Economic City is an incredible opportunity which perfectly matches our vision to help local companies, governments, organizations, and individuals succeed globally via strategic, creative solutions. To be part of the effort to not only build an entire city but also one that is aiming to tackle major issues in the country is really an incredible opportunity. Working every day to help create a job, provide an opportunity to own a home, and raise the standards of urban planning is such a privilege for us at Elixir."

"For example, we just completed a study to best understand the needs and desires of Saudis wanting to own a mid income home. Today we better understand the minimum plot sizes they want, the budgets they can afford, the amenities they need, and other factors they need to move their families to KAEC." added Mr. Khoja. "We also completed a major study to understand the needs of industrialists and what would drive them to open manufacturing facilities at KAEC's Industrial Valley. We then worked very closely with the EEC team to optimize the value proposition and develop new products that will soon be launched to the public. It's really an exciting time!"

Elixir Business Consultancy has offices in Jeddah, Riyadh, & King Abdullah Economic City and offers services in marketing, research, branding, Corporate Social Responsibility, Project Management, Human Resources, Value Chain Optimization and transformation of small to mid size companies.

-Ends-

© Press Release 2011