King Abdullah Economic City:11 May, 2015

Senior officials from the Chamber of Commerce and Industry (JCCI) in Jeddah recently visited King Abdullah Economic City (KAEC) to explore the different investment opportunities and operation at King Abdullah Port (KAP). The delegation included: Dr. Mohammed Zimmu, Head of Pharmaceuticals Committee, Mr. Nayef Al-Sharif, Head of Food Trading Committee, as well as Mr. Ali Basamh and Dr. Wasif Kabli, in addition to the committee members and businessmen. The delegation was received by senior executives from King

On this occasion, Mr. Fahd Al-Rasheed, Group CEO and Managing Director of King Abdullah Economic City, expressed his gratitude to the delegation, stating:" "The visit comes within the framework of fruitful and ongoing partnership between KAEC and JCCI to collaborate on mutually relevant topics and different investments opportunities to support the national economy". He added: "the visit is gaining its importance from the promising opportunities offered by the city which provides international standards in infrastructure, and includes an ideal environment enjoyed by the city's community and meets all the facilities and modern services, that contributed to the growing number of local and international investors."

Upon arrival, the delegation went through a detailed presentation and documentary film that includes the most important developments and progress in KAEC. In addition, a city tour took place to identify the achievements on the ground accomplished in different sites, including the Coastal Communities that provide total housing solutions for all segments of the society, The World Academy school, and the Industrial Valley which extends over an area of 55 million square meters constitute almost one-third of the Economic city space. Also, a special visit to King Abdullah Port and the operations area which is run by 90% of the Saudi female employees took place. King Abdullah Port (KAP) that is set to be one of the 10 largest ports in the world, is able to accommodate 3 giant commercial ships and to unload them at the same time. Moreover, 600 thousand containers have been handled at the Port since its startup.

From his side, Mr. Rayan Qutub, CEO of the Industrial Valley in KAEC, said: "We are very pleased with the interest shown by JCCI committees' heads and members." He added: "The size of the enormous investment opportunities offered by the industrial valley connected directly with King Abdullah port qualifies it to be a major destination point in supplying advanced logistic services and industry in the region. It offers access to 250 million consumers in the Arab world and East Africa."

Qutub continued: "IV offers the investors to acquire land for commercial and manufacturing facilities in a fully developed industrial environment, complete with technologically advanced services including electricity, water, gas, sewage, communications, paved roads and rain drainage networks. In addition to the residential project "The Village" which is designed especially for workers and supervisors. The Industrial Valley currently consists of six industrial sectors: pharmaceuticals, food and consumer goods, logistics, plastics, building materials and the automotive industry." He added: "To date we have signed with more than 93 national and international companies of which 8 are already in operation and 23 others are under construction." Qutub concluded:" The IV continues to endure the rapidly increasing demand on lease and freehold industrial lands in its second and third phase of development at a speed beyond expectations where currently infrastructure is being developed for an area that exceeds 25 million sqm to cope with the increased demand. Certainly, this will offer more job opportunities for the Saudi youth."

At the end of the visit, JCCI delegation had lunch at the Bay La Sun Hotel and Marina (the first five stars hotel in the city), where they expressed their faith that KAEC is the best place for national and international funds' investments. The delegation was very keen to know more about the promising opportunities and observe the happening projects; they also witnessed the great potentials of King Abdullah Port, which represents a significant addition support of the Saudi economy and the movement of world trade.

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© Press Release 2015