1.6m square-metre phase one to be handed over to investors
Saudi Arabia-based Emaar, The Economic City (Emaar EC), signed an agreement with Singapore’s Jurong International to develop the second phase of Industrial Valley in Saudi Arabia’s King Abdullah Economic City (KAEC).
Jurong International is responsible for the master planning and infrastructure engineering of a two million-square-metre site in the Industrial Valley project, one of six components in the 63 million-square-metre KAEC.
The agreement comes as part of KAEC’s commitment to provide integrated solutions to its investors and in response to the growing demand for serviced industrial land plots.
KAEC has started handing over property to investors in the city’s Phase 1 of the Industrial Valley, which rests on 1.6 million square metres.
Listed on Saudi Arabia’s Stock Exchange (Tadawul), Emaar EC is a publicly-owned branch of Dubai’s Emaar Properties which was created in 2006 as a joint venture between Emaar and private investors in Saudi Arabia.
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