King Abdullah Economic City: After signing a first master cooperation agreement with King Abdullah University of Science and Technology (KAUST) in March 2022, King Abdullah Economic City (KAEC) is going further with Industrial Valley (IV) signing of a Memorandum of Understanding (MoU) with the Research & Technology Park (KRTP) of KAUST.
This agreement aims to enhance the collaborative framework that has allowed both parties to work towards the advancement of science and industry through the utilization of world-class core facilities and personnel at both KAUST and KAEC’s Industrial Valley (IV). It also aligns with KAEC’s long-term market strategy which aims to foster a business-friendly environment through a series of Economic Cities and Special Zones Authority-backed (ECZA) incentives and services.
Eng. Majid Matbouly, Head of Industrial Valley (KAEC), commented: “In keeping with the strategic partnership between KAUST and KAEC, the Industrial Valley is proud to announce the deepening of its partnership with KAUST, designed to support our valued tenants in their Research and Development needs and initiatives by providing them with the wide range of facilities and personnel available at KAUST Research & Technology Park (KRTP). It is our firm believes that this collaboration will add significant value to both parties and our partners. It will also contribute greatly to their success and growth.”
Dr. Kevin Cullen, Vice President for Innovation, KAUST, commented: "This ambitious new milestone in our ongoing partnership with KAEC will see KRTP tenants benefit from a wide range of KAEC offerings and services, with KAEC companies benefiting from access to KAUST's Technology and Research Park ecosystem. These will all lead to employment, recruitment, and education opportunities for both KAUST and KAEC. We at KAUST look forward to utilizing our joint capabilities and expertise to further Saudi Arabia's drive for an innovative, knowledge-based economy."
Under the terms of the MoU, KAEC and KAUST will work to provide Industrial Valley tenants working in various research and development fields with offices and lab space access at KAUST Research & Technology Park (KRTP). KAEC will also help identify eligible SMEs and corporations and facilitate the set-up of research and development facilities at KRTP, effectively bolstering the R&D park’s innovation ecosystem.
Both parties will also be invited to participate in a wide range of events and informal gatherings which aim to enhance personal and professional ties amongst some of the Kingdom’s best and brightest. This reflects the agreement’s overarching focus on human capital development, organic community building, and enhanced social well-being.
About King Abdullah Economic City
King Abdullah Economic City (KAEC) is an emerging destination centrally situated on the Saudi Arabian coast of the Red Sea. Located a short distance north of the commercial capital Jeddah, KAEC is a 185-square kilometer city anchored by King Abdullah Port—recently named by the World Bank as the most efficient port in the world—and KAEC Industrial Valley, which is focused on developing the Kingdom’s logistics and light manufacturing capacities. Over 100 multinational and Saudi companies have already established a home in KAEC, engaging in a diverse range of ventures from advanced logistics to activities within the automotive, pharmaceuticals, FMCG, packaging, and building materials manufacturing industries. KAEC is directly connected to the Haramain high-speed railway network and the Saudi National Highways grid, making the city a key node along the Red Sea economic corridor.
In addition to its diverse economic functionalities, KAEC offers a modern leisure and tourism district which includes over 40 kilometers of pristine coastline, several hotels and the award-winning Royal Greens international tournament golf course. In 2021, the city welcomed over 1 million visitors and has since developed a range of lifestyle residential communities for its growing population of full-time residents and second homeowners.
With its strategic location, advanced infrastructure and investor-friendly regulations, KAEC is a ready-made platform for Saudi Arabia’s Vision 2030 initiatives. The city serves as a benchmark for innovative government initiatives, has hosted a variety of national events, and is a preferred site for large-scale, strategic projects across numerous key sectors. As a prime indication of the country’s commitment to private-public partnerships and the seamless facilitation of foreign direct investment, KAEC serves as an active contributor to the national objectives embodied in Vision 2030. By developing the tourism sector, promoting sports, entertainment, and the arts, creating new jobs, and growing non-oil exports through companies operating in its Industrial Valley, KAEC continues its mission to cultivate a prosperous city for all.
KAEC cordially welcomes third-party investors, real estate developers and operators to realize their projects and ambitions within the city in the collaborative advancement of ongoing expansion. Emaar, The Economic City (EEC) is the master developer of the city and acts as the master planner, primary infrastructure developer, enabler and facilitator of KAEC. EEC is a Tadawul-listed public joint stock Saudi company established in 2006 and is 25% owned by the Public Investment Fund (PIF).
For more information, visit: https://kaec.net
About King Abdullah University of Science & Technology
Established in 2009, King Abdullah University of Science and Technology (KAUST) is a graduate research university devoted to finding solutions for some of the most pressing scientific and technological challenges in the world as well as Saudi Arabia in the areas of food and health, water, energy, environment and the digital domain. KAUST is a curiosity-driven, interdisciplinary problem-solving environment, with state-of-the-art labs, distinguished faculty and talented students.
KAUST brings together the best minds from around the world to advance research. More than 110 different nationalities live, work and study on campus. KAUST is also a catalyst for innovation, economic development and social prosperity, with research resulting in novel patents and products, enterprising startups, regional and global initiatives, and collaboration with other academic institutions, industries and Saudi agencies.
For additional information, visit www.kaust.edu.sa.