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07Nov

KING ABDULLAH ECONOMIC CITY LAUNCHES 3RD TIME FORUM

City showcases investment opportunities worth seven billion riyals across multiple sectors

King Abdullah Economic City is organizing and hosting its third Time Forum investment event at the Bay La Sun Hotel and Marina on Wednesday, 8 November 2017.

The forum will showcase investment opportunities worth a total of SAR 7 billion across strategic sectors including logistics, light manufacturing, tourism, entertainment, real estate, health and education.

The event is held under the patronage of His Excellency the Governor of the Saudi Arabian General Investment Authority (SAGIA), Eng. Ibrahim Bin Abdul Rahman Al-Omar, and will host business decision-makers and investors from both inside and outside the Kingdom.

“The Time Forum is part of KAEC’s contribution to realizing the aims of Vision 2030 by providing an attractive environment for national and international companies,” said Mr. Fahd Al-Rasheed, Group CEO and Managing Director of King Abdullah Economic City. “KAEC is developing in many high-growth areas of the economy and the forum provides a platform where we can showcase our plans and objectives for the future and offer investors an opportunity to share in our growth.”

The organization of the Time Forum reflects the continued growth of the city in line with the government’s interest in advancing the national economy, with a particular focus on non-oil industries. The city is working closely with government agencies including the Ministry of Housing, the General Entertainment Authority and the Small and Medium-sized Enterprise Authority on a wide variety of projects aligned with Vision 2030.

Since KAEC was established, the value of construction and development contracts issues by the city has exceeded 20 billion Saudi Riyals, 80 percent of which has been awarded to national companies. These investment contracts have enabled the city to pursue its social and economic development by installing advanced infrastructure, utilities and public services.

The investment has also contributed to developing the city’s strategic growth engines, led by logistical services and industry, as well as King Abdullah Port, which reached an annual throughput of three million TEU’s, and the Industrial Valley, which has succeeded in attracting more than 120 national and international companies. The city is currently working on establishing and developing a number of projects in the tourism and entertainment sector, in addition to initiatives to support youth and entrepreneurs.

The previous Time Forum was held in Riyadh in 2015 in partnership with the Council of Saudi Chambers and the Economic Cities Authority and was well received by  local and international investors.

“The Time Forum is a great opportunity to meet with our current and prospective partners to exchange ideas and share our exciting plans for the continued growth and development of King Abdullah Economic City,” said Fahd Al-Rasheed.

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.