Rapper Nelly and Composer Elias Rahbani Among Performers During Saudi Arabia’s First Ever Live Concert Series
In a bold move to fulfill the goals of Vision 2030, the Kingdom of Saudi Arabia (KSA) is allowing and endorsing live cultural events that are available to the general public. As the Kingdom continues in its commitment to provide Saudis a higher quality of life, it is also making unprecedented strides in the area of arts and culture. In the final days of 2017, King Abdullah Economic City (KAEC), supported by the General Entertainment Authority (GEA) and along with help from Benchmark Events, welcomed famous Lebanese musician Elias Rahbani and his orchestra to the Kingdom.
Outside Investment Could Connect the Red Sea Region and Boost Global GDP
The 20 countries that make up the Red Sea Region are experiencing phenomenal growth.
The region is one of the fastest-growing, yet underexploited, emerging markets in the world, according to KAEC Group CEO and Managing Director Mr. Fahd bin Abdul Mohsen Al-Rasheed.
The United Nations estimates that in the next 20 years, the population of the Red Sea Region will increase from 620 million to 1 billion people. The Brookings Institute reports the GDP in the region is also expected to grow from $1.8 trillion today to $6.1 trillion by 2050, with trade increasing from $881 billion today to $4.7 trillion by 2050.
KAEC Residents Living in the Lap of Luxury with the Opening of Royal Greens Leisure Development
The Royal Greens Golf and Country Club is an 800,000 sqm championship golf course located in the prestigious coastal community of Al Murooj in King Abdullah Economic City (KAEC). The award-winning private club is an expansive luxury entertainment complex that provides a bevy of amenities for residents of the fast-growing KAEC community to enjoy.
The SR85 million project broke ground in 2014 with an expected launch date of 2015. The golf course is the work of European Golf Design, the well-known joint venture between European Tour and IMG.
European Tour is perhaps most famous for its involvement with the PGA. IMG is a sports, fashion, and media company based in London. Working under the moniker of European Golf Design, the company has designed some of the most beautiful golf courses in the world, with their work being recognized on multiple occasions as the “Best New Course in Europe” by Golf World Magazine.
A Vegetation Maze, 2 Kids Play Zones, Game Courts, and an Outdoor Exercise Area. Welcome to Juman Park!
Juman Park and Promenade is the 55,000 sqm public park development in the Bay La Sun District of King Abdullah Economic City (KAEC) in the Kingdom of Saudi Arabia.
KAEC is experiencing rapid year-over-year growth with notable boosts in the number of national and international companies investing in the area and a coinciding increase in the residential population of KAEC. Hence, Juman Park was created to provide KAEC residents with a convenient, family-friendly way to engage within the community, to exercise and relax.
New Investment In Roads, Utilities, and Telecommunication Networks for Industrial Valley
The Industrial Valley, located in King Abdullah Economic City (KAEC) has assigned two construction contracts that will launch the district into its Phase 3 development plans. Phase 3 includes 5 million sqm of land centrally located in the Industrial Valley. Phase 3 stretches from the Valley perimeter down to the coast. The mixed-use space includes both residential and industrial plots to provide housing for Valley workers.
Construction contracts were awarded to Saudi Binladin Group and Salem Saleh Al-Harithi Company. Saudi Binladin Group will develop 1.44 million sqm of the area which will cost SR 83.47 million. Salem Saleh Al-Harithi Company will oversee the development of 1 million sqm of Phase 3, which will cost SR 49.35 million. The two companies were scheduled to complete construction towards the end of 2017.
Expect the New Homes in the Miram District to be Big on Tech and Luxury
King Abdullah Economic City has released 280 residential plots for purchase and development at Miram Al Hejaz. The plots, which are inside the city’s Hejaz district gated community, are designated for use as single-family residential dwellings.
KAE first announced the availability of the land plots at Miram Al Hejaz in the last few weeks of 2017, at the Hilton Hotel in Jeddah. The plots start at SR 358,000 with a down payment of 5 percent. The release of land plots at Miram is expected to meet the current demand for housing in KAEC, as well as attract local professionals, families, visitors, and investors who are relocating to KAEC and looking to buy a luxury home in the up-and-coming Miram District.
KSA Presents Startup City KAEC to the World as a Proof of Concept for Vision 2030
King Abdullah Economic City is making headlines around the world as the largest private-funded startup city.
Founded in 2006 by King Abdullah, the concept of KAEC emerged at a time when oil prices were declining. In the same period, the current administration in the Kingdom of Saudi Arabia was working to put together a plan to both protect the long-term interests of the Saudi people and solidify the Kingdom’s position as one of the wealthiest and most powerful nations in the world.
Two Months After Completing Tomouh Job Readiness Program, All 1,000 KAEC Graduates Already Have Jobs
“Tomouh,” which is the Arabic word for ambition, was designed to fortify the skills of high school students by strengthening their computer and English language skills. Doing so helps these students from Rabigh prepare to enter the workforce and vie for jobs in KAEC.
Industrial Valley: Where World-Class Companies Go to Grow
The Industrial Valley of King Abdullah Economic City (KAEC) has emerged as one of the world’s most sought-after destinations for high-profile companies. Situated between the two holy cities of Makkah and Medina, Industrial Valley has become a vibrant and integrated live-work community along the Red Sea Corridor.
Starbucks, Clean Laundry, and Dunya Al Asfour Beauty Arrive at KAEC
KAEC Retail released its most recent update of new and existing retail developments at Bay La Sun Marina, Beach Walk, Marina Promenade, Bay Views Business Park, and Murooj Mall.
New retail tenants consist of both national and international companies, including companies that have previously done business in the Kingdom of Saudi Arabia and newcomers.
KAEC’s Al-Murooj District Invites New Residents Into its New Beachfront Community
King Abdullah Economic City has released residential plots for purchase and development at a new 900,000 sqm beachfront section of the affluent Al-Murooj District.
Which is the most prestigious and luxurious community in KAEC, covering nearly 5 million sqm of land that overlooks the Red Sea coast. Al-Murooj includes three focal points: the Beach Community, the Golf Community, Country Club, and the Manazel Community.
KSA’s First Culinary Arts Academy Certifies Hospitality Labor in KAEC
King Abdullah Economic City (KAEC) signed a Memorandum of Understanding with the Mohammad bin Salman bin Abdulaziz (MISK) Foundation to launch a Culinary Arts Academy. The school, which will be situated in KAEC, will be the first culinary arts school to launch in the Kingdom of Saudi Arabia. It is slated to open its doors by early 2018.