King Abdullah Economic City, April 8th, 2012:

King Abdullah Economic City (KAEC), has recently received a high-powered delegation from Harvard University, which was led by Professor Richard Peiser, Prof. of Real Estate Development in Harvard University, Bing Wang, Lecturer in Urban Planning and Design at the Harvard Graduate School of Design, as well as a group of PhD and Master's researchers from the School of Design. The delegation was received and welcomed by Mr. Fahd Al-Rasheed, Managing Director and CEO of King Abdullah Economic City, and senior executives from (KAEC).

A visual and detailed presentation of KAEC developmental stages of construction and progressing, as well as a detailed vision of attracting local and foreign investments to the Kingdom was presented to the visiting delegation by Mr. Al-Rasheed. In addition, a tour of King Abdullah Economic City took place after the presentation, to identify the most important achievements and developments on the ground progress accomplished, including an update on KAEC seaport, City's infrastructure, residential units that have started to be handed over to city residents and workers at the Bay La Sun District, land plots delivered in the Industrial Valley, offices at the Business Park as well as a wide variety of retail space throughout the city. 

Thanking Mr. Al-Rasheed and his colleagues for their hospitality, Professor Peiser said: "We are impressed with what we saw today at King Abdullah Economic City, in terms of vision and the progress made. Professor Peiser who has a demonstrated interest in spatial and design as well as in the economics of land development, positively commented on KAEC's overall urban development. He concluded; "it is a unique experience for us to get a firsthand look at the impressive efforts being undertaken in order to build this economic city."

Mr. Al-Rasheed explained to the delegation how KAEC continues to be of global and regional interest, given the tremendous progress that has been made in attracting quality Foreign Direct Investments (FDI) as well as local investments in vital business sectors. He went on to highlight KAEC's anticipated economic role, as well as identifying the available investment opportunities. Al-Rasheed added: "We are happy with this visit as it helps us to interact with our various stakeholders, especially with urban development professionals, who can share their knowledge and expertise."

Dr. Mossaed Al-Ahmed, is a board member in the advisory board at  REAI, Harvard University; economic consultant and  the Middle East ambassador for the  real state alumni organization at Harvard University , stated: "KAEC is a national achievement that fills every Saudi citizen with pride and it has been my privilege to ​​coordinate this visit by Harvard University, enabling the delegation to witness the great achievements at KAEC and see the tremendous investment opportunities created by this massive development project." Dr. Mossaed went on to say: "KAEC reflects the prosperity which Saudi Arabia is currently enjoying and represents a significant addition to the Kingdom's economic and developmental growth, as well as helping to revive the economy in the region."

The delegates concluded their visit to KAEC with lunch at one of the restaurants overlooking the sea in Bay La Sun Village, after which they went on to Jeddah to visit historic sites on a tour organized by officials of KAEC to give the visitors a complete picture of the Kingdom's cultural and architectural inheritance in the context of its advanced modern development.

© Press Release 2012