Residential property sales at King Abdullah Economic City reach $267m

24 July 2008
Sales of residential property at King Abdullah Economic City (KAEC) has reached SR1bn ($267m) according to the developer Emaar, The Economic City.

The first phase of the city includes the development of an industrial zone, sea port and residential communities.

Key residential projects include Bay Le Sun Village, which is the first residential community within the city and Esmeralda Suburb, a townhouse and golfing community.

The latest announcement from Emaar follows a previous announcement from the developer that KAEC had attracted SR130bn of investment (MEED 12:6:08).

A number of investment projects have been launched in the first half of 2008 including healthcare and media zones, and a plastics area in the industrial zone.

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