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The Custodian of Two Holy Mosques
King Abdullah Bin AbdulAziz AI Saud
Custodian of the Two Holy Mosques Bin AbdulAziz Al Saud is a principal visionary, whose insightful leadership has lead to the development of mega economic cities such as KAEC, within Saudi Arabia. Ascending the throne, following some rich experience gathered through holding a number of important political posts, he is credited with transforming Saudi Arabia into a 21st century Kingdom. A Kingdom that today has an important role in the Muslim and Arab world, as well being a responsible player in the international scene. His reign has seen tremendous domestic developments related to education, employment, the judiciary, health and social care. His economic policies recognize the importance of private investment and are continually working towards extending the potential of the Saudi economy to ensure full benefits to its Saudi and foreign investors.
The master developer of KAEC is Emaar, The Economic City - a Tadawul listed, real estate development and management company. With its vision to develop world-class integrated lifestyle projects,
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Saudi Arabian General Investment Authority (SAGIA) is the prime facilitator of the KAEC development. Established by Royal decree in 2000, it is the Saudi government body responsible
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The master developer of KAEC is Emaar, The Economic City - a Tadawul listed, real estate development and management company. With its vision to develop world-class integrated lifestyle projects, the primary focus of this company has been the planning and development of King Abdullah Economic City. It offered its first successful public offering in July 2006 that set history with more than half the Saudi population subscribing to it. Emaar, The Economic City is a consortium headed by Emaar Properties PJSC and a number of high-profile investors from Saudi Arabia. Emaar Properties, one of the world’s largest real estate companies, aims to become one of the world’s most valuable companies by 2010, and exists across 6 business sectors with more than 60 active companies spanning the Middle-East.
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Saudi Arabian General Investment Authority (SAGIA) is the prime facilitator of the KAEC development. Established by Royal decree in 2000, it is the Saudi government body responsible for promoting investments in the Kingdom and providing ‘One Stop Shop’ services to the investors. SAGIA’s ’10 X 10’ and ’20 X 20’ initiatives focus on raising Saudi Arabia’s living standards and achieving rapid, sustainable economic growth within the Kingdom. One of the strategies adopted by the Kingdom and SAGIA is the development of economic cities like KAEC, to provide a vibrant, business-friendly environment, leveraging Saudi Arabia’s core economic advantages.
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