EEC - King Abdullah Economic City (KAEC)
Saudi Arabian General Investment Authority (SAGIA) is undertaking the King Abdullah Economic City (KAEC) Program in Rabigh, Saudi Arabia.
King Abdullah Economic City (KAEC), has signed a cooperation agreement with the Saudi British Bank (SABB) to provide shariah-compliant financing solutions to help its clients who wish to benefit from housing offers and purchase ready-made housing units in the residential neighborhoods of the Economic City.
The US$27,000 million project includes six major economic cities:
1. Construction of Ras Al-Khair (formerly known as Ras Al Zour) Resource City
2. Construction of Madinah Knowledge Economic City
3. Construction of Jizan Economic City
4. Construction of King Abdullah Economic City
5. Construction of Prince Abdulaziz bin Mousaed Economic City
6. Construction of Tabuk Economic City
The new cities are expected to contribute $150 billion to the countryâs GDP by the year 2020 and provide job opportunities for 1.3 million people and increase the per capita income of those living in these cities.
In 2005, Abdullah bin Abdulaziz Al Saud, the king of Saudi Arabia revealed a world-class, integrated lifestyle development called the âKing Abdullah Economic City (KAEC)â. The entire development is being built by an Emaar-led consortium, which will add to the socio-economic prosperity of the Kingdom.
King Abdullah Economic City is an initiative that represents a future of magnificent proportions. It is a city that is continuously evolving to deliver the promise of its potential. I will cover an area of about 168 million square meters (sqm). The city is divided into six main components:
1. Industrial Zone
2. SeaPort, Residential Areas
3. Sea Resort
4. Educational Zone
5. Central Business District (CBD)
6. Financial Island
Second Section
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05 April 2024
Industrial Development: The project continues to be on hold.
02 April 2024
Electric Car Manufacturing Plant: The construction works are ongoing on the project.
01 March 2024
CEER Electric Vehicle Manufacturing Plant: Modern Building Leaders (MBL) has been appointed as the main contractor with an value of $1002 million for the development of the project.
11 February 2024
CEER Electric Vehicle Manufacturing Plant - Modern Building Leaders (MBL) is the front-runner for the project.
20 December 2023
King Abdullah Economic City (KAEC): Automotive Re-Manufacturing Facility:The project is in initial stages of development.
29 November 2023
KAEC: Electric Car Manufacturing Plant: Construction works are ongoing and the project is expected to be completed by March, 2025.Tissue Manufacturing Plant: The project is completed.
07 September 2023
CEER Electric Vehicle Manufacturing Plant - The main contract award is expected to be awarded in the fourth quarter of the year. The following companies have submitted the bids: China State Construction Engineering Corporation.Shibh al-Jazira Contracting Company, El-Seif Engineering Contracting, Hassan Allam Holding, Abdul Mohsen al-Tamimi Partner Group, Al-Bawani, Al-Kifah Contracting Company, Consolidated Contractors Company, First Fix, China Machinery Engineering Corporation, China Railway Construction Corporation, Saudi Constructioneers, Trojan General Contracting, Yapi Merkezi, Saudi Baytur, Nesma & Partners, Al-Rashid Trading & Contracting Company, Al-Fanar Projects, Modern Building Leaders and Al-Ayuni Investment & Contracting Company.
31 July 2023
King Abdullah Economic City (KAEC): Automotive Re-Manufacturing Facility: The project is in initial stages of development.
09 June 2023
CEER Electric Vehicle Manufacturing Plant: The main contract award is expected to be awarded in the third quarter of the year.
02 May 2023
KAEC: Industrial Development: The project continues to be on hold and the time frame for its revival is unknown at this juncture.
24 February 2023
Emaar the Economic City (EEC) has signed a term loan facility agreement of up to SR1bn ($267m) with one of its substantial shareholders, the Public Investment Fund (PIF) on the project. (Source: MEED)
21 February 2023
Construction works are progressing as per schedule on the LUCID : Electric Car Plant project.
01 February 2023
Construction works are progressing and are expected to be completed by April 2023 on the Industrial Valley: Tissue Manufacturing Plant.
03 November 2022
Headquarter in KAEC: The project continues to be on hold.
05 September 2022
Bay La Sun District:Four Star Hotel: the project continues to be on hold.
23 August 2022
The construction works on Electric Car Manufacturing Plant are expected to commence in Q4 2022.
12 August 2022
KAEC: Rixos Emerald Shores Resort: The project is still in study stage and tender for the main contract is likely to be issued in mid of 2023.
06 July 2022
Mobily Headquarter in KAEC: The project continues to be on hold.
24 May 2022
Al-Bawani has been appointed as the main contractor for the project: Electric Car Manufacturing Plant.
07 April 2022
Hejaz Gateway Mall in Makkah is still on hold and the time frame for the revival is yet unknown.
12 December 2021
The Bay La Sun District: Four Star Hotel continues to be on hold and the timeframe for revival is yet unknown.
06 October 2021
Finishing works are progressing on the New Logistics Hub.
29 July 2021
There is no news regarding the main contract tender for Park Inn Hotel by Radisson, Bay La Sun Coastal Towers, Think Tank, City Views Complex I and II.
21 June 2021
Construction works are progressing on New Logistics Hub.
28 March 2021
The construction works are progressing on KAEC: Esmeralda.
27 November 2020
The construction works are progressing on KAEC: Esmeralda, and the completion time frame is unknown at this juncture.
16 September 2020
The Bay La Sun District: Four Star Hotel continues to be on hold and the timeframe for revival is yet unknown.
16 July 2020
Design works are complete on Park Inn Hotel by Radisson and construction works are progressing on Esmeralda and Lagoona Motorpark.
10 April 2020
Design works are progressing however there is no news regarding the main contract tender issue for Park Inn Hotel by Radisson
11 March 2020
The design works on Bay La Sun Coastal Towers are completed.
03 February 2020
The KAEC, Hospital (500 Beds) in Makkah is in initial stages of development.
03 January 2020
The design activities are ongoing on Hejaz Miram and the overall project is expected to be completed by December 2024.
11 November 2019
Industrial Zone: Infrastructure works Phase 3 (Package â 1A) continues to be on hold and the timeframe for its revival is not yet known.
29 October 2019
The construction works are progressing on Lagoona Motorpark.
02 July 2019
Emaar - KAEC - Industrial Valley : Infrastructure works : Phase 3 (Package 1A) continues to be on hold.
12 June 2019
The main contract tender has not yet issued for KAEC: Industrial District: turbine structure manufacturing plant.
25 April 2019
Emaar - King Abdullah Economic City: Desalination Plant (SWRO): Finishing works are underway and it is expected to be completed by June 2019.
13 January 2019
Construction works are underway on the Infrastructure Works : Phase 4 project.
20 November 2018
Rove Hotel in Rabigh-The main contract bids are still under evaluation.
10 September 2018
Emaar - KAEC : Rove Hotel in Rabigh-The main contract bids are still under evaluation, however the time frame for award is unknown. Mobily - Headquarter in KAEC- The project is on hold.
10 May 2018
Emaar - KAEC : Rove Hotel in Rabigh: Site preperation works have commenced on the project.
10 January 2018
The client has signed an agreement of SAR 13 million ($3.47 million) with EFS Facilities Services Group (EFS) to provide integrated facilities management services on the project.
25 October 2017
Al Haramain Link Road : The construction works on this project is nearing completion. However, the exact completion timeline has not been disclosed.
19 June 2017
Al Hokair Group - KAEC: Bay La Sun District:Four Star Hotel : The design consultant is not yet appointed for the project.
28 March 2017
Emaar, The Economic City - KAEC: Industrial District: EEC - KAEC - Flow Progressive Logistics: The construction works have progressed up to 80 percent completion and the overall project is expected to complete by May 2017.
01 March 2017
EEC - KAEC : Shamla Pharmaceutical Manufacturing Plant : The project has progressed about 68 per cent and the overall completion is expected by July 2017.
11 January 2017
Emaar - KAEC : Gateway Mall The main contract bid submission date has been extended from December 25, 2016 to January 12, 2017. It is understood that the following companies amongst others have have been prequalified and likely to submit the bids., Al Saad General Contracting, Specialized Contracting Company, Alkifah Contracting However, Alkifah Contracting has regretted to bid for the project.
28 December 2016
Emaar - KAEC: Al Murooj Golf Communities (GC6 & GC7): Infrastructure Works The project has been awarded to Rezaik Al Gedrawy Contracting and currently the mobilization works are ongoing on the project.
26 October 2016
AVK Saudi Valves Manufacturing Company has signed a long term supplier contract with KAEC.
18 October 2016
Emaar - KAEC: Al Murooj Golf Communities: Clubhouse The project is complete.
03 October 2016
Emaar - KAEC: Al Haramain Link Road:The construction works are ongoing on the project with completion date is unknown at this juncture.
30 August 2016
PDC - KAEC: King Abdullah Port: Phase 1: Stages 1 C1 & 1 C2 & 3 A1 : The construction works are ongoing and the time frame for completion is not yet known.
29 August 2016
EEC - KAEC - Flow Progressive Logistics : As per site visit on 25th August :The construction works are ongoing on the project.
26 August 2016
EEC - KAEC : Shamla Pharmaceutical Manufacturing Plant : As per site on 25th August visit finishing works are ongoing on the project.
26 August 2016
EEC - KAEC : Al Murooj Beach Community 2 Infrastructure Package : As per site visit on 25th August 2016, the construction works are ongoing on the project.
25 August 2016
EEC - KAEC : Resort Cove Zone Infrastructure (Package E1) : As per site visit on 25th August : The project looks complete.
25 August 2016
Union Pipes Industries Ltd - KAEC : PP/PE Pipes and Manholes Plant : As per site visit on 25th August : The project is complete. Asphalting work are finishing up.
23 August 2016
Al Salem Johnson Controls : KAEC - New Factory and Training Centre : The project is cancelled.
22 August 2016
SABIC - KAEC : Rabigh Steel Plant : The project on hold.
04 August 2016
KAEC: Al-Talah Gardens 4 & 5: Infrastructure - Finishing work is ongoing on the remaining two zones and the project has progressed by 85 percent. The completion is expected by January 2017.
29 July 2016
Emaar Economic City - KAEC : Al Murooj Beach Community 2 Infrastructure Package: The project is nearing completion.
29 June 2016
EEC - KAEC: JEDAFCO Aluminium Factory (Phase 1A) (Plot 1B 43,44) : The project is completed.
27 June 2016
Al Kabeer - KAEC : Manufacturing Plant : The project is completed.
22 June 2016
Al Salem Johnson Controls : KAEC - New Factory and Training Centre : The project is on hold reasons are unknown.
13 June 2016
EEC - KAEC : Shamla Pharmaceutical Manufacturing plant : The project has progressed 60-70 per cent and is expected to be complete by end December 2016.
02 May 2016
PDC - KAEC: King Abdullah Port Construction works are ongoing on two berths within the container terminal.
27 January 2016
The client is also planning to develop medical centers and educational facilities in KAEC.
28 October 2015
SABIC - KAEC : Rabigh Steel Plant: The project continues to be on hold. (Source: MEED)
12 August 2015
Phase one of Al Waha Community is complete.
19 January 2015
Rabigh steel plant project is kept on hold. The client is likely to review the viability of the project considering the decline in steel prices. The time frame for the project's revival is unknown.
31 December 2014
King Abdullah Port: Phase 1 stage B is complete, Huta Marine has been awarded stages 1 C1 - 1 C2 - 3 A1 and will take 21 months to complete.
12 May 2014
The master plan for King Abdullah Economic City was updated. The city will now be developed in four 5-years stages. The main areas are the port, the industrial and logistics district, the residential water front, Haramain mixed-use district and King Abdullah University for Science and Technology KAUST.
11 December 2013
Education Zone: The project is still put on hold. So far the time frame of revival of the project has not yet been revealed.
23 September 2013
Al Murooj District (270 villas): Ruwad Civil Construction has been awarded the main contract.
02 June 2013
Business Park: phase 1 is complete, phase 2 in finishing stage.
27 April 2013
Millennium Seaport: The project is built in two phases, phase 1 the southern area and phase 2 the northern area.
02 January 2013
Esmeralda: Al Talah Gardens: Contractors have submitted bids for infrastructure works.
19 November 2012
Phase 2: Structure works are in its finishing stages.
12 October 2012
Industrial District: Infrastructure: Al Harbi Trading & Contracting Company has been awarded the main contract.
21 May 2012
The financial island has been put on hold. Time frame for the revival of the project has not yet been revealed yet.
26 February 2012
Port Development Company (PDC) was established the joint venture of Emaar Economic City and Saudi Binladin Group to develop the sea port of king abdullah economic city.
26 February 2012
Phase 1 of sea port will start commercial operation by Q3 2013.
30 June 2011
Saudi Arabiaâs $1300m loan given to Emaar Economic City will fund the Brussels-sized housing and business development near Jeddah through 2012.
29 April 2010
The Kingdom of Saudi Arabia plays a pivotal role in the world economy and to sustain its current stand it must continue to expand its non-oil export options. To further this objective the Saudi Arabian government has embarked on development plans for the future to diversify its economy away from oil. Major economic cities planned accross the country are part of this broader objective. The six major economic cities that are planned inculde: -Ras Al-Khair (formerly known as Ras Al Zour) Resource City -Madinah Knowledge Economic City -Jizan Economic City -King Abdullah Economic City -Prince Abdulaziz bin Mousaed Economic City -Tabuk Economic City The new cities are expected to contribute $150 billion to the countryâs GDP by the year 2020 and provide job opportunities for 1.3 million people and increase the per capita icome of those living in these cities. In 2005, Abdullah bin Abdulaziz Al Saud, the king of Saudi Arabia revealed a world class, integrated lifestyle development called the âKing Abdullah Economic City (KAEC)â. The entire development is being built by an Emaar-led consortium, which will add to the socio-economic prosperity of the Kingdom. King Abdullah Economic City is an initiative that represents a future of magnificent proportions. It is a city that is continuously evolving to deliver the promise of its potential. I will cover an area of about 168 million square metres (sqm).The city is divided into six main components: Industrial Zone Sea Port, Residential Areas Sea Resort Educational Zone Central Business District (CBD) Financial Island
01 January 2005
SAGIA announced plans to undertake the King Abdullah Economic City (KAEC) Program in Rabigh, Saudi Arabia.