JEDDAH, 17 December 2006 -- Rakisa Holding, the lead developer of Prince Abdul Aziz ibn Musaed Economic City (PABMEC) in Hail, plans to launch a silicon valley project to create at least 600 jobs for women, according to Abdullah Al-Rakhis, chairman of the company. He said the project, which is estimated to cost SR82 million, would be launched in February 2007.
He said the silicon valley would supply electronic products required by banks, telecom and publishing companies and e-government. "We are currently holding negotiations with Saudi Telecom and Mobily to participate in the project," Al-Rakhis said.
He said PABMEC would be the first city in the world to introduce all smart infrastructure applications by reaching a deal with specialized international companies.
Rakisa has already signed agreements to set up joint teams in association with major companies such as Intel and Cisco Systems. "There are international cities in the United States and Singapore that use smart infrastructure. At Hail economic city, we will implement all these applications," he said.
"We have started sending a number of Saudis to the US, Canada, Ireland and Singapore for training on smart infrastructure facilities," he added.
The Riyadh smart cities forum, sponsored by Rakisa and organized by the Saudi Arabian General Investment Authority (SAGIA), was held yesterday highlighting investment opportunities in the four economic cities in Rabigh, Hail, Madinah and Jizan, that were launched by Custodian of the Two Holy Mosques King Abdullah in different parts of the Kingdom within a year.
Al-Rakhis emphasized the significance of the economic cities, saying they would increase job opportunities for Saudis, exploit special advantages of certain regions and achieve redistribution of population and infrastructure facilities. The new economic cities are expected to draw domestic investment worth nearly SR300 billion ($80 billion).
The first economic city launched in December 2005 in Rabigh (the King Abdullah Economic City) focuses on promoting energy- and transportation-related industries, while the second economic city in Hail is designed around transportation and related logistical services.
The Knowledge Economic City in Madinah will include a technology and knowledge-based industry zone; an advanced IT studies institute; an interactive museum on the life of Prophet Muhammad (peace be upon him); a center for Islamic civilization studies; a campus for medical research and biosciences; a retail zone; a business district; and residential zones including high rises.
The fourth economic city in the southern city of Jizan will have an industrial zone, a logistic service center, an energy-cum-desalt plant, a residential zone and a port. The economic cities are aimed at developing the Kingdom's regions in a high-tech fashion while easing mounting pressure off the major cities' infrastructures.
By P.K. Abdul Ghafour
© Arab News 2006
