Media Centre

The Industrial Valley at King Abdullah Economic City has awarded two major construction contracts to develop 2.44 million square meters of land, including part of the infrastructure for Phase 3.

The construction contracts will see the development of road networks, road lighting and other utilities such as water and power supply networks, sewage, runoff drainage, and telecommunications networks to support the continued growth of the award-winning project.

“The Industrial Valley is the fastest growing manufacturing and logistics hub in the region and an investment destination of choice for leading local, regional and international companies, and it aspires to be the largest non-oil and logistics center in the region” said Fahd Al-Rasheed, Group CEO and Managing Director of KAEC.” “The Industrial Valley will pave the way for more businesses to grow with the city and contribute to the growth in job opportunities for Saudis.” Al-Rasheed added.

Of the 2.44 million square meters set to be developed, 1.44 million will be developed by Saudi Binladin Group, at a cost of SAR83.47 million. The second contract will see the development of the remainder of the project by the Salem Saleh Al-Harithi Company, at a contractual cost of SAR49.35 million. Both projects are scheduled for completion by the end of 2017.

“Development of the Industrial Valley is proceeding as scheduled in the master plan for the city and is meeting a growing demand among investors for high caliber tracts of industrial land,” said Rayan Qutub, Chief Executive Officer of the Industrial Valley.

The company has already closed the sale of 1.75 million square meters of Phase 3 to major corporations including Al-Futtaim, Binzagr, Abbar Group, Sunbulah Group, and Naghi Group.

The development has proven especially attractive to logistics services providers, according to Rayan Qutub.

“The central location of Phase 3 within the Industrial Valley is strategically   convenient for logistics providers seeking to offer solutions not only in the Industrial Valley, but all across King Abdullah Economic City,” he said.

The Industrial Valley was recognized by Capital Finance magazine as the Best Industrial Development Project of 2016.

About King Abdullah Economic City

King Abdullah Economic City (KAEC) is the largest privately-funded new city in the world. Situated on the west coast of the Kingdom of Saudi Arabia, KAEC covers an area of 181 square kilometers of land, approximately the size of Washington DC. KAEC comprises King Abdullah Port, the Coastal Communities residential districts, the Haramain Railway district and the Industrial Valley. The city is under development by Emaar, The Economic City, a publicly listed Saudi joint-stock company established in 2006.