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Jun 10, 2006, 8:24 PM
King Abdullah City IPO 'likely next month'
from Trade Arabia (http://www.tradearabia.com/tanews/newsdetails_snCM_article105748_cnt.html)
Sunday, May 28, 2006
The King Abdullah Economic City, a new development coming up near Jeddah, is planning to launch its initial public offering (IPO) next month, according to a report.
The Saudi Capital Market Authority and banking sources have made no announcements regarding the date of the IPO, said the Gulf News report. The size of the IPO has not been made known.
However, it has been decided that 30 per cent of the equity of the company will be offered in the IPO and that it would be open for subscriptions for two weeks, said the report.
The cost of each share will be 10 riyals ($2.70) and the minimum number of shares to be purchased will be 50.
The city will be built at a pristine location on the Red Sea coast north of Jeddah with an investment of 100 billion riyals ($26.6 billion).
The Dubai-based Emaar Properties is the master developer of the giant project.
The City will be a mixed-use development located north of the commercial hub of Jeddah to ensure easy access from the Holy Cities of Makkah and Madina. A massive 55 million square metres of greenfield land with a 35 km shoreline close to the industrial city of Rabegh has been earmarked for the master development.
The City will have six distinct components – a modern world-class Seaport, Industrial District, Financial Island, Education Zone, Resorts and The Residential Area. Completion of the overall project will be done in stages with the first batch of businesses and residents moving into the City in a period of 24 to 36 months.
Jun 10, 2006, 9:14 PM
When completed, it will be one of the largest in the world (2.6 million square metres):
The port will allow even the world’s largest super vessels to drop anchor. With its strategic location on the Red Sea and the instant access to key cities within Saudi Arabia, the port will have a designated area for light industry and logistics and be a natural platform for onward movement of goods to Europe, Africa, Asia and beyond. The port will have an integrated transport system with seamless high speed transitions from sea to rail, road and air, making the City the main gateway to the central and eastern provinces as well as the entire Kingdom.
The port, with its close proximity to the two Holy Cities of Makkah and Madina, will have a dedicated Hajj terminal that can receive over 500,000 pilgrims every season. To cater to the pilgrims’ every need, there will be adjoining hotels, medical centres and other world-class amenities.
Jun 10, 2006, 9:33 PM
It will cover 8 million square metres, and is exclusive to the requirements of a range of manufacturers – small, medium and large scale industry. They will represent sectors such as downstream petrochemicals, pharmaceuticals, research and development activities as well as a host of educational institutions that will prepare young Saudis for the jobs that the City will bring in. A sizeable area has also been set aside to develop accommodation for employees and their families.
Jun 10, 2006, 9:36 PM
It will serve up a most compelling mix of waterfront hotels and boutique residences. The master plan envisages 3,500 well-appointed hotel and residential bedrooms and suites, premium villas, plus an extensive retail element and an international-class signature 18-hole golf course and an equestrian club.
Jun 10, 2006, 9:46 PM
Three residential districts:
The first district wraps itself around a town centre, which will be a blend of the traditional and the modern.
The second district will have a corniche as its main theme. It is in keeping with this concept that the district will ‘curve’ around a top-of-its-class marina and yacht club with 450 boat moorings.
The souq and retail elements will contribute 350,000 square meters of prime space. Around 75,000 residents are expected to live here. The third district will be a secluded residential community set on an island on a choice water location.
Jun 10, 2006, 9:51 PM
It comprises of Universities, Schools and Research & Development Centres.
http://img160.imageshack.us/img160/3462/kaecjetty6xi.th.jpg (http://img160.imageshack.us/my.php?image=kaecjetty6xi.jpg) http://img363.imageshack.us/img363/3528/dety1sd.th.jpg (http://img363.imageshack.us/my.php?image=dety1sd.jpg)
Jun 10, 2006, 9:58 PM
Conceived to be a ‘city within a city’ for financial institutions. The Island will offer 500,000 square metres of office space for the leading international and regional financial entities, business hotels and a new exhibition and convention centre. Up to 60,000 professionals are to operate from the Financial Island on a daily basis.
Financial Island will be topped by two towers reaching up to 100 and 60 storeys that offer compelling views of the surrounding city skyline.
Jun 10, 2006, 10:15 PM
Where the hell did you find all this stuff?
Thanks for taking the pics though, if you did take them, and if you didn't, thanks for uploading them :D
Jun 11, 2006, 1:25 AM
RAK plans Mina Al Arab
Monday, May 01 - 2006
RAK Properties has unveiled a development project, Mina Al Arab, worth $2.7bn, that will occupy a total area of 30m sqft spread over a beach front strip and a group of islands in Ras Al Khaimah. A number of themed resort hotels and two eco-hotels will be featured, in addition to a cluster of 3,500 residential units. The project will also offer 388 residential villas in various architectural styles.
Jun 12, 2006, 1:51 AM
James Bond Agent 007
Jun 12, 2006, 2:12 AM
That has to be the most impressive model I have ever seen.
And the design of the city is cool, too! :)
Jul 22, 2006, 6:14 PM
Jul 27, 2006, 1:26 PM
Moving right along......
Groundwork advancing at King Abdullah Economic City (http://www.emaar.com/MediaCenter/PressReleases/2006July25.asp)
July 25, 2006 at 11:58
Riyadh, Saudi Arabia, July 25, 2006: Emaar the Economic City (EEC), a consortium headed by global real estate major Emaar Properties PJSC and a number of high profile investors from Saudi Arabia, has made rapid progress on ground and site work for its flagship development in Saudi Arabia, the King Abdullah Economic City (KAEC).
The single largest private sector initiative in the Kingdom, KAEC is a SR100 billion (US$26.6 billion) project off the Red Sea Coast covering a Greenfield site of 55 million sq m. Saudi Arabian General Investment Authority (SAGIA), the body responsible for inward investments to the Kingdom, is the prime facilitator of KAEC.
EEC’s initial public offering of 255 million shares – 30 per cent of its total equity – to raise SR2.55 billion (US$679.9 million) is currently open for subscription and will run through August 2, 2006. Approved by the Capital Market Authority (CMA) of Saudi Arabia, the IPO is fully underwritten and open only for Saudi nationals. The subscription is for a minimum of 50 shares and a maximum of 25,000 shares of SR 10 each.
“KAEC is more than a property development – it will usher in a new era in the economic growth of Saudi Arabia through its six well-rounded components that integrate commercial, retail, residential and leisure amenities,” said EEC Chairman Mr Mohamed Ali Alabbar. “Apart from building a whole new city and laying out the entire infrastructure support, the direct contribution of KAEC to the economy is its employment potential of 500,000 jobs.”
Groundwork on KAEC, unveiled late-2005, is going full steam ahead. The structural steel work for the presentation center has been executed and installation of precast walls will be completed in a fortnight. Work is also underway on the project’s first boulevard - a 15 km long stretch that features over 3,000 palm trees.
“Excavation work for the first city canal to run through the Red Sea Village, a component of KAEC, has started. Geotechnical investigations are being conducted for dwelling units, and designs for one of the main entry gates, the first Corniche Park and marina have been completed. There are over 500 workers on-site now, and the number will exceed 1,000 soon,” said Mr Nidal Jamjoom, Chief Executive Officer, EEC.
During the first three years, construction will be focused on four major areas: the Port; Industrial areas; the Resort District comprising two major beachfront hotels, the first golf course and associated villas; and several apartments and office buildings in the Town Center.
Approved by the Ministry of Commerce & Industry vide Ministerial Resolution No. 609 dated May 13, 2006, for its incorporation, EEC aims to become “the largest property development company in the Kingdom and an investor in a diversified portfolio of high quality real estate assets,” said Mr Jamjoom.
King Abdullah Economic City will undertake mixed-use developments in its six components: a modern world-class seaport, industrial district, financial island, educational and healthcare zone, resorts and the residential area. The overall project will be completed in stages, with the first batch of commercial houses and residents expected to take possession within 30 to 36 months.
KAEC will integrate into the Kingdom’s on-going drive to expand the economy, create employment opportunities for its youngsters, catalyze foreign investment inflow and global trade, and boost commerce and industry.
Aug 8, 2006, 8:12 PM
Record 10 million Saudis subscribe to SR2.55 billion Emaar the Economic City IPO (http://www.propertyworldme.com/content/html/1494.asp)
Property World Middle East
An overwhelming 10 million Saudis, approximately half the country’s national population, subscribed to the ten-day initial public offering (IPO) of Emaar the Economic City (EEC), setting a new record in the Kingdom’s capital market history. Oversubscribed by 2.82 times, the SR2.55 billion IPO received 2.8 million applications with the total amount subscribed at SR7.18 billion.
In another record of sorts, the IPO fetched the largest ever subscription through automatic teller machines (ATMs) highlighting the trend of Saudi nationals being increasingly tech and online savvy. Over 30 per cent of the total subscriptions were made via ATMs.
EEC’s fully underwritten IPO, open only for Saudi nationals, had on offer 255 million shares at a nominal value of SR10 each, proceeds of which will be used towards the development of the King Abdullah Economic City (KAEC).
“The overwhelming response to the IPO is a direct result of the successful vision of The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud to transform the economy of the Kingdom to be ready to leverage a host of opportunities aimed at the prosperity of the Saudi citizens,” said EEC Chairman Mohamed Ali Alabbar. “The forward looking policies of the Saudi Government and the Capital Market Authority (CMA) as well as the strong and growing economy of the Kingdom have played a key role in the success of the EEC IPO,” he explained.
“The invaluable support provided by Saudi Arabian General Investment Authority (SAGIA) in the creation of the EEC and in making the world-class KAEC project a reality, has strengthened our resolve to move ahead with confidence,” he said.
“We are thankful to the large number of Saudi investors for their trust in our company and in the prestigious KAEC project. As a path-breaking initiative, KAEC will usher in a new era of economic prosperity for the Kingdom and play a critical role in the housing, education, health care, financial and economic sectors. Besides, the project will also create over 500,000 employment opportunities for Saudi citizens amongst its various components. The huge response to the IPO is therefore a reiteration of the confidence investors have in the project and the value it brings to the Saudi society,” Mr. Alabbar added.
“The emerging investor appetite for sound offers in the stock market, as reflected in the overwhelming response for the EEC IPO, is a signal of confidence by Saudi citizens in the capital market and a new phase of balanced growth that is based on sound fundamentals and the financial performance of companies,” Mr. Alabbar said.
“The investor confidence in the EEC IPO adds momentum to the KAEC project, which has already made significant progress with site development work underway on the project’s first boulevard and geotechnical investigations being conducted,” said Mr. Nidal Jamjoom, Chief Executive Officer, EEC.
The IPO was fully underwritten with SABB as lead underwriters and Riyad Bank and National Commercial Bank (NCB) acting as sub-underwriters. HSBC is the exclusive financial advisor on the IPO with SABB appointed as lead manager. KPMG Al Fozan & Bannaga are the registered auditors and reporting accountants while Baker & McKenzie are the legal advisors.
The 11 receiving banks that supported the subscription were: SABB, NCB, Bank Al Bilad, Bank Al Jazira, Riyad Bank, Banque Saudi Fransi, The Saudi Hollandi Bank, The Saudi Investment Bank, Arab National Bank, Al Rajhi Banking & Investment Corporation and Samba Financial Group.
Mr. Ioannis Karapatakis, HSBC Managing Director, Global Investment Banking Advisory, said: “The EEC IPO was a trend-setter with investors showing their preference for alternative channels like ATMs, Internet and tele-banking to subscribe to the shares. It is a robust indication that Saudi investor are now more tech-savvy. The IPO marked the first time, anywhere in the world, that a large number of subscriptions were conducted through ATMs.”
Mr. Adel Marzook Al-Nasser, Deputy Managing Director, SABB, added: “The EEC IPO has surpassed all subscription records in the Kingdom by attracting 10 million subscribers, which is approximately half the Saudi national population. Of these, over 30 per cent subscribed through ATMs – a very encouraging trend. SABB is proud to have served as the lead manager of this record-breaking IPO. We thank all the receiving banks who worked closely with us on the IPO.”
EEC is a consortium headed by global real estate major Emaar Properties PJSC and a number of high profile investors from Saudi Arabia. Net proceeds from the offering will be used by EEC to finance the SR100 billion (US$26.6 billion) King Abdullah Economic City (KAEC). SAGIA, the body responsible for inward investments, is the prime facilitator of KAEC, the single largest private sector initiative in the Kingdom.
King Abdullah Economic City, which encompasses over 55 million sq m, will undertake mixed-use developments in its six components: a modern world-class seaport, industrial district, financial island, educational and healthcare zone, resorts and the residential area. The overall project will be completed in stages, with the first batch of commercial houses and residents expected to take possession within 30 to 36 months.
Sep 30, 2006, 10:59 PM
Sep 30, 2006, 11:10 PM
I really like the design of that supertall, any bigger renders of it?
Sep 30, 2006, 11:18 PM
Thats about it. I'm surfin' at work now looking. Little news on this project lately other than water desalination issues.
Oct 1, 2006, 12:14 AM
Man, this is great. Another city rises from the sand!!!! This place looks great and I'm loving the supertall.
Oct 1, 2006, 11:09 AM
u guys can any of u tell me how high is the tallest building in the economic city???
Oct 2, 2006, 11:58 PM
u guys can any of u tell me how high is the tallest building in the economic city???
Well Just imagine 100 and 60 stories:slob:
Oct 11, 2006, 1:04 AM
International Airport to Be Built in Rabigh
P.K. Abdul Ghafour, Arab News
JEDDAH, 10 October 2006 — An international airport will be established as part of the King Abdullah Economic City (KAEC) in Rabigh, about 200 km north of Jeddah, according to Mohamed Ali Alabbar, chairman of Emaar Economic City Company. “The new airport will serve the economic city and nearby areas,” Alabbar said, adding that it would facilitate transport of passengers and cargo to and from KAEC, which is expected to attract investment projects worth more than SR200 billion.
The airport project will figure prominently at the first meeting of the company’s board of directors today. The board will also discuss other expansion projects since Custodian of the Two Holy Mosques King Abdullah has agreed to increase the city’s area from 55 to 168 million square meters. Economic analysts said the decision to increase KAEC’s area by three times would double the investments. As a result, the company is likely to hike its capital from SR8.5 billion to SR16 billion.
Abdullatif Basheikh, professor of accounting at King Abdul Aziz University in Jeddah, said that after the expansion of its area, the city would attract investment projects worth SR200 billion, instead of SR100 billion as previously estimated. Ali Al-Hazmi, another analyst, said the expansion of KAEC’s area would have far-reaching impact as it would increase its assets and create room for more vital projects.
KAEC will have six distinct components — a modern world-class seaport, an industrial district, a financial island, an education zone, resorts and residential area. Completion of the overall project will be in stages with the first batch of businesses and residents moving into the city within 36 months.
Emaar Properties, the world’s largest real estate company in terms of market capitalization, is the master developer of this ambitious project. SAGIA (Saudi Arabian General Investment Authority), the body responsible for inward investments into the Kingdom, is the prime facilitator for the development.
Source: Arab News (http://www.arabnews.com/?page=1§ion=0&article=87939&d=10&m=10&y=2006)
Oct 11, 2006, 5:39 PM
:psycho: :psycho: :psycho: :psycho:
Emaar.E.C expands size of King Abdullah Economic City project
[Wednesday, October 11, 2006 2:21:00 pm]
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o Emaar the Economic City (Emaar.E.C)
More on: Emaar the Economic City (Emaar.E.C)
Emaar.E.C to be listed on Tadawul on October 7
Emaar the Economic City (Emaar.E.C) has significantly expanded the size of its largest-ever development in the Middle East, King Abdullah Economic City (KAEC) in Saudi Arabia, by nearly four times to cover an area of over 168 million sq metres and unveiled a new masterplan.
The Tadawul-listed company has modified the KAEC masterplan to make substantial additions to its six major components – the Port, Industrial District, Central Business District (including commercial, mixed-use, retail and Financial Island), Resort, Educational Zone and Residential (including corniche and souks).The expansion will help generate more employment opportunities for Saudis, enhance foreign direct investment and boost the Kingdom’s economy.
The Emaar.E.C board of directors met on Tuesday in Jeddah and approved the ambitious growth programme in addition to outlining the scope of expansion of the various zones within the project.
“King Abdullah Economic City is the single largest private sector development in Saudi Arabia and has been inspired by the vision of The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud to energize the Kingdom’s economy,” said Mr Mohamed Ali Alabbar, Chairman, Emaar.E.C. “King Abdullah had instructed that the project must serve the largest possible number of Saudis and expand in its size and scope of operations accordingly.”
KAEC is expected to usher in a new era of economic prosperity to the Kingdom. Saudi Arabian General Investment Authority (SAGIA), the body responsible for inward investment to the Kingdom, is the prime facilitator of KAEC.
Following the expansion, the project has the potential to generate one million jobs for Saudi citizens and will serve as home to two million residents. The jobs created will be in industrial and light industries (330,000); research and development (150,000); business and office (200,000); services (115,000); hospitality (60,000) and education and community services (145,000).
KAEC is situated on a greenfield site on the Red Sea coast. It offers easy access to the two Holy Cities of Makkah and Madina and is also near to Jeddah. “We are creating a new nerve-centre for global businesses that look at Saudi Arabia for the investment opportunities provided by the Kingdom,” said Mr Alabbar.
“This aligns with the vision outlined by The Custodian of the Two Holy Mosques King Abdullah bin AbdulAziz AlSaud to make the Kingdom among the top 10 most competitive nations in the world by 2010,” added Mr Alabbar. “United Nations Conference on Trade and Development (UNCTAD) has already ranked Saudi Arabia number one in inward foreign direct investment in the Arab world.”
“This expansion is a landmark move for Emaar.E.C, which has gained the trust of the Saudi citizens,” said Mr Nidal Jamjoom, Chief Executive Officer, Emaar.E.C. “Every component of the project is being scaled up corresponding to the addition of the land. This expansion will eventually translate into more business opportunities for Saudis as well as overseas investors.”
RSP Architects, master planners of King Abdullah Economic City, has revised the overall masterplan of the project. Additional detailed masterplanning was provided by WATG for resorts and residential zones, SOM for the city centre and Parsons International for the Industrial Zone.
“Covering 13.8 million sq metres – a major increase of 11.2 million sq m from the earlier project - the Seaport will be the largest in the region with a capacity of over 10 million twenty-foot equivalent unit (TEU) containers per year, which is significantly higher than all other regional ports,” said Mr Alabbar. “The port will have facilities to handle cargo and dry bulk, and will be equipped to receive the world’s largest vessels. Another key component of the Port will be a custom-built Hajj Terminal.”
Following the expansion, the Industrial District will cover 40 million sq m – five times more than previously envisaged. The 4,000 hectares of land will be dedicated to industrial and light manufacturing facilities - identified as key growth drivers for the Saudi economy - and can now host 2,700 industrial tenants. The Industrial District will have specific initiatives to encourage local entrepreneurs through incubator-like modules. International experts have been consulted to ensure that the Industrial Zone development is in line with best environmental practices.
The Central Business District (CBD) will offer 3.8 million sq m of office space, hotels and mixed-use commercial space. The Financial District, within the CBD, has now been doubled in area to cover 14 hectares of land, which will be the largest regional financial nerve centre for the world’s leading banks, investment houses and insurance groups.
The retail component of KAEC takes a quantum jump following the expansion of the project. From an area of 3.3 million sq m, the total retail facilities will now spread to cover 8.7 million sq metres and house over 50,000 shops, nearly three times the earlier estimate. The retail components include shopping malls, town centers, neighbourhood malls and street shops.
The Hospitality zone will be another strategic component of the new expansion with the number of hotel rooms and suites being increased from 12,000 rooms in 60 hotels to 25,000 hotel rooms in more than 120 hotels. An ideal place to work and live, the KAEC will now have 250,000 apartments and 25,000 villas – a leap from 110,000 apartments and 16,000 villas.
The project has added 4.5 million sq m of parks and wadis that will enhance the aesthetic appeal provided by 4.9 million sq m of new water canals, which are very wide through its entire course thus creating additional waterfront. The canals are inspired by the waterways of Amsterdam and will offer 75 km of pedestrian promenade. With the introduction of the canals, more than 42 linear kilometres of waterfront has been added on to the project. Residents can thus enjoy beach boardwalks, sea water lagoons and the natural beaches fronting the Red Sea. For marine enthusiasts, the project will have five yacht clubs that can berth more than 3,000 vessels.
Building on the socio-cultural environment demanded of living environments, KAEC will have 550 mosques including several Grand Mosques in the residential zones. Several schools will be opened to cater for the educational needs of children in each community apart from a University campus for 18,000 students. A sports stadium will also be part of the project, which will have 45,000 seats.
Emaar.E.C recently set a record of sorts in the history of the Kingdom’s capital market when its initial public offering fetched an overwhelming response. With an authorized share capital of SR8,500 million, comprising 850 million shares of nominal value SR10 each, Emaar.E.C offered 30 per cent of the equity, fully subscribed by the public.
Open only for Saudi nationals, the IPO was for 255 million shares at a nominal value of SR10 each. Approximately half the country’s national population subscribed to the ten-day IPO. Oversubscribed by 2.82 times, the SR2.55 billion IPO received 2.8 million applications with the total amount subscribed at SR7.18 billion.
Work is on-schedule at KAEC. The overall project will be completed in stages, with the first batch of commercial houses and residents expected to take possession in the last quarter of 2008.
Oct 11, 2006, 11:11 PM
المشروع يوفر مليون فرصة عمل للسعوديين ويحتضن 2 مليون قاطن
"إعمار الإقتصادية" تضاعف مشروع "مدينة الملك عبدالله" 4 مرات
ضاعفت شركة إعمار المدينة الاقتصادية حجم مشروع "مدينة الملك عبدالله الاقتصادية" في المملكة العربية السعودية بنحو 4 مرات، لتصل المساحة الإجمالية التي يغطيها إلى 168 مليون متر مربع، مما يجعله أكبر مشروع للتطوير العقاري على الإطلاق في الشرق الأوسط.
وخسر سهم شركة إعمار المدينة الإقتصادية 8.7%، من قيمته في أول تراجع سعري له منذ تداوله بالسوق السبت الماضي، ليغلق عند مستوى 36.75ريال، مسجلاً اعلى كمية تداول على مستوى السوق، بلغت 80.9 مليون سهم، قيمتها الإجمالية 3.25 مليار ريال.
تعديل المخطط الأساسي
وقالت الشركة المدرجة حديثاً في سوق الأسهم السعودية "تداول" ، في بيان أصدرته الأربعاء، 11-10-2006، أنها قامت بتعديل المخطط الأساسي لمدينة الملك عبدالله الاقتصادية، بحيث يتضمن توسعات كبرى وتعديلات جذرية على مناطق المدينة الست، وسوف تساعد هذه التوسعة في إيجاد المزيد من فرص العمل للمواطنين السعوديين، وزيادة تدفق الاستثمارات الأجنبية المباشرة إلى البلاد، ودفع النمو الاقتصادي للمملكة.
وإجتمع مجلس إدارة "إعمار المدينة الاقتصادية" أمس الثلاثاء في جدة، ووافق على برنامج النمو الطموح، بالإضافة إلى تحديد نطاق التوسعة في مناطق المشروع المختلفة.
وقال محمد بن علي العبار، رئيس مجلس إدارة إعمار المدينة الاقتصادية في تعليق له على هذه الخطوة "تمثل مدينة الملك عبدالله الاقتصادية أكبر استثمارات القطاع الخاص في المملكة العربية السعودية، كما أنها تجسد جانباً من رؤية خادم الحرمين الشريفين الملك عبدالله بن عبدالعزيز آل سعود، في حفز النمو الاقتصادي في المملكة، حيث أعطى توجيهاته بأن يخدم هذا المشروع أكبر عدد ممكن من أبناء المملكة، وأن تتم زيادة حجم ونطاق العمليات بما يحقق هذا الهدف ".
وأضاف أنه في أعقاب توسعة مساحة المدينة، من المتوقع أن توفر مليون فرصة عمل للمواطنين السعوديين، وأن تحتضن مليوني قاطن، وستتوزع فرص العمل الناجمة عن المشروع على القطاع الصناعي والصناعات الخفيفة (330 ألفاً)، والأبحاث والتطوير (150 ألفاً)، والأعمال والمكاتب (200 ألف)، والخدمات (115 ألفاً)، والضيافة (60 ألفاً)، والتعليم والخدمات الاجتماعية (145 ألفاً).
مركز عالمي جديد للأعمال
تقع مدينة الملك عبد الله الاقتصادية بالقرب من ساحل البحر الأحمر، وتتيح الوصول بسهولة إلى مكة المكرمة والمدينة المنورة، كما أنها قريبة من جدة، وقال العبار: "ما نطوره اليوم هو مركز عالمي جديد للأعمال يهدف إلى احتضان الشركات الساعية إلى المملكة بحثاً عن فرص استثمارية".
وأضاف العبار: "ينسجم هذا المشروع العملاق مع رؤية خادم الحرمين الشريفين، بأن تصبح المملكة من بين أكثر 10 اقتصادات عالمية تنافسية بحلول عام 2010، وقد صنف "مؤتمر الأمم المتحدة للتجارة والتنمية" (أونكتاد) المملكة العربية السعودية في المرتبة الأولى في العالم العربي من حيث تدفق الاستثمارات الأجنبية المباشرة".
من جهته، قال نضال جمجوم، الرئيس التنفيذي لإعمار المدينة الاقتصادية "تشكل هذه التوسعة نقلة نوعية بالنسبة لشركة إعمار المدينة الاقتصادية التي حازت ثقة عامة الجمهور السعودي، وقد تمت توسعة كل واحدة من مناطق المشروع بشكل متناسب مع الزيادة في مساحة أرض المشروع، وسوف تترجم هذه التوسعة إلى المزيد من الفرص للسعوديين والمستثمرين الأجانب على حد سواء".
في الوقت الذي قامت فيه شركة "آر إس بي" الهندسية؛ المسؤول الرئيسي عن تخطيط مدينة الملك عبدالله الاقتصادية؛ بمراجعة مخطط المشروع وزيادة المساحة الإجمالية للمدينة إلى 168 مليون متر مربع، ساهمت شركات "دبليو أيه تي جي" و"إس أو إم" و"بارسونز الدولية" على التوالي بوضع المخططات التفصيلية الإضافية لمناطق المنتجعات والأحياء السكنية ومركز المدينة والمنطقة الصناعية.
وأوضح العبار أنه في ظل التوسعة الجديدة، ستتم زيادة مساحة الميناء البحري بواقع 11.2 مليون متر مربع عن المخطط القديم، لتصبح مساحته الإجمالية 13.8 مليون متر مربع ويتحول إلى أكبر ميناء في المنطقة بقدرة استيعابية تزيد على 10 ملايين حاوية نمطية سنوياً.
كما سيتم تجهيز الميناء لمناولة الطرود والبضائع السائبة ولاستقبال أكبر سفن العالم، كما أن المنشآت الأخرى في الميناء ستضم مبنى خاصاً للحجاج، وستغطي المنطقة الصناعية بعد التوسعة 40 مليون متر مربع، أي ما يعادل 5 أضعاف المساحة التي كانت مخططة سابقاً، وسيتم تخصيص المساحة البالغة 4 آلاف هكتار من الأرض للمنشآت الصناعية والصناعات الخفيفة، والتي أظهرت الدراسات أنها من المجالات الحيوية لتنويع الاقتصاد السعودي، ويمكن لهذه المنطقة احتضان 2700 منشأة صناعية، أي ضعف العدد الذي كان مزمعاً من قبل.
وأما حي الأعمال المركزي، فسوف يوفر 3.8 مليون متر مربع مبني من الحيز المخصص للمكاتب والمرافق متعدد الاستخدامات والمنشآت الفندقية. كما تمت مضاعفة "الجزيرة المالية" إلى 14 هكتار من الأرض، حيث ستكون مركزاً إقليمياً هاماً للمصارف العالمية وبيوت الاستثمار الكبرى ومجموعات التأمين الرائدة.
وتحقق المنطقة التجارية في مدينة الملك عبد الله الاقتصادية من خلال هذه التوسعة قفزة هائلة بواقع 3 أضعاف تقريباً، حيث ستغطي مساحة قدرها 8.7 مليون متر مربع وتضم أكثر من 50 ألف متجر، بعدما كانت المساحة المخصصة لها 3.3 مليون متر مربع، وسوف تشهد المنطقة التجارية أيضاً مجموعة من مراكز التسوق المتكاملة وأسواقاً مركزية ومجموعة من المحال التجارية.
وكانت إعمار المدينة الاقتصادية قد طرحت 30% من إجمالي رأسمالها العام البالغ 8500 مليون ريال والموزع على 850 مليون سهم للاكتتاب العام، أي ما يعادل 255 مليون سهم بقيمة اسمية وقدرها 10 ريالات للسهم الواحد.
وقد سجلت عملية الاكتتاب، التي فتحت أمام المواطنين السعوديين حصراً، رقماً قياسياً في تاريخ الاكتتابات التي شهدتها أسواق المال في المملكة، مع تجاوز عدد المكتتبين أكثر من 10 ملايين مكتتب، أي ما يقارب نصف سكان المملكة من السعوديين.
كما فاق حجم الاكتتاب القيمة المستهدفة بـ 2.82 ضعفاً، ليصل مجموع المبالغ المكتتب بها مع إغلاق باب الاكتتاب إلى 7.18 مليار ريال سعودي توزعت على 2.8 مليون طلباً.
وتجري حالياً الأعمال الإنشائية في المشروع على قدم وساق، حيث من المتوقع انتقال أول مجموعة من الشركات والسكان إلى المدينة التي يتم تنفيذها على عدة مراحل في الربع الأخير من العام 2008.
The project provides one million jobs for Saudis, embraces two million dweller "Economic reconstruction" doubled the "King Abdullah City" four times.
The company doubled the size of the economic reconstruction of the city of the "King Abdullah Economic City" in the Kingdom of Saudi Arabia at about four times, to reach the total area covered by the 168 million square meters. , which makes it the largest real estate development project ever in the Middle East. Company shares lost economic reconstruction of the city 8.7% of its value in the first price decline since the market traded last Saturday, to be retried at the level of 36.75 riyals, recording the highest quantity of circulation at the level of the market, amounted to 80.9 million shares, a total value of 3.25 billion riyals. Amending the basic outline The company said the newly listed in the stock market in Saudi Arabia "circulation" in a statement issued on Wednesday, 10 - 11-2006 she had planned to amend the Statute of the city of King Abdullah Economic, to include major expansions and radical amendments to the six areas of the city, and this expansion will help in creating more job opportunities for Saudi citizens, The increased flow of foreign direct investments into the country, pushing the economic growth of the Kingdom. He met with the Board of Directors of the "economic reconstruction of the city" yesterday, Tuesday, in Jeddah, and agreed on a program of ambitious growth, in addition to defining the scope of the expansion project in various areas. He said Mohammed bin Ali Abbar, board chairman of the city's economic reconstruction comment on this step, "representing the city of King Abdullah Economic largest private sector investment in Saudi Arabia, It also embodies a vision of the Custodian of the Two Holy Mosques, King Abdullah Bin Abdul-Aziz Al Saud. to stimulate economic growth in the Kingdom, where I directed that the project would serve the largest possible number of the sons of the kingdom. and to increase the size and scope of operations to achieve this objective. " He added that in the wake of the enlargement of the area of the city, is expected to provide 1 million jobs for Saudi citizens, and that attracts two million dweller, The inspectors employment resulting from the project on the industrial sector and light industry (330 thousand), research and development (150 thousand), business and office (200 thousand), and services (115 thousand), hospitality (60 thousand), education and social services (145 thousand). The new world of work The city is King Abdullah Economic near the Red Sea coast, and allowing easy access to Mecca and Medina, and is close to his grandfather, Abbar said : "What we are developing today is a world center of the new work aims to embrace companies seeking to Saudi in search of investment opportunities." Abbar added : "This is consistent with the vision of the giant project Custodian of the Two Holy Mosques, Kingdom to become among the most competitive global economies of 10 by 2010. The brand "of the United Nations Conference on Trade and Development" (UNCTAD) Saudi Arabia ranked first in the Arab world in terms of the flow of foreign direct investment. " For his part, Nidal Jamjum, Executive President of the economic reconstruction of the city, "This expansion quantum leap for the company economic reconstruction of the city which have earned the confidence of the general public Saudi each expansion has been one of the project areas to be proportional to the increase in the area of the project's land, and this expansion will translate into more opportunities for Saudis and foreign investors alike. " Project figures At a time when the company "RS" system engineering; primarily responsible for the planning, King Abdullah Economic City; audit outline of the project and increase the total area of the town to 168 million square meters. companies contributed "W. G. any T" and "S or mother" and "Parsons international" respectively develop detailed plans for the additional resort areas, residential areas and the center of the city and industrial area. Abbar explained that in light of the new expansion, will increase the area of the seaport at 11.2 million square meters from the old scheme, to become a gross area of 13.8 million square meters and turn into the largest port in the region with a capacity of more than 10 million standard containers annually. The port will be equipped to handle parcels and bulk cargo ships and receive greater world, The other facilities at the port will include the building of special pilgrims, and will cover an industrial zone after enlargement 40 million square meters. the equivalent of five times the space that was previously planned. , will be allocated area of four thousand hectares of land for industrial plants and light industries, and studies have shown that it is one of the critical areas to diversify the Saudi economy, and this region can embrace 2700 industrial establishments, that is twice the number that was planned. Center Capital The Central Business District, it will provide 3.8 million square meters of building space for offices and multi-use facilities and hotel facilities. It was double the "financial island" to the 14 hectares of land, as a regional center will be important for global banks and major investment houses and insurance groups pilot. Verification and trading area in the city of King Abdullah economic expansion through this huge leap by almost three times. where will cover an area of 8.7 million square meters and includes more than 50 thousand shop after the area allocated to 3.3 million square meters. It will also witness the trade group of shopping centers and markets integrated centralized set of shops. The economic reconstruction of the city had put 30% of the total capital of General million riyals in 8500 and distributed to 850 million shares for public subscription, the equivalent of 255 million shares at a nominal value of 10 riyals per share. The subscription has been recorded, which was opened in front of Saudi citizens exclusively, a record in the history of financial promises in the capital markets in the Kingdom, with the number of subscribers more than 10 million in liquid form, any nearly half the population of the Kingdom of Saudi. It also exceeded the volume of the subscription value target at 2.82 times, of the total amounts subscribed with the closure of the subscription to 7.18 billion Saudi riyals were distributed among 2.8 million request. The construction works are underway in the project in full swing, as expected transition from the first group of companies and the population to the city, which will be carried out in several stages in the last quarter of the year 2008.
Oct 13, 2006, 2:57 AM
The only problem is that it is in Saudi Arabia...
Oct 13, 2006, 8:16 AM
^^ believe me not everyone have this view about "Saudi Arabia"
go go KSA :)
Oct 14, 2006, 3:26 AM
The only problem is that it is in Saudi Arabia...
Where are you from ?
I am Saudi :notacrook: did you visit Saudi ? :D
Oct 14, 2006, 3:28 AM
^^ believe me not everyone have this view about "Saudi Arabia"
go go KSA :)
5shmak :cheers: :leek:
Oct 14, 2006, 5:48 AM
pretty cool... but why this obsession with building humongous cities out of nowhere, almost instantly?
Oct 14, 2006, 11:58 AM
5shmak :cheers: :leek:
lol, I thought 5ashmak is only an Emirati thing :D
Oct 14, 2006, 5:00 PM
All Arabian Gulf ;) in Saudi like Najd but it is little now " An8arthat " :D 3ala rasy Ahal Al Emirates :hug:
Dec 31, 2006, 1:27 AM
Saudi Arabia set to record strong performance in '06 (http://www.menafn.com/qn_news_story_s.asp?StoryId=1093136972)
Khaleej Times - 21/12/2006
(MENAFN - Khaleej Times) JEDDAH — Saudi Arabia is set to realise another strong economic performance in 2006. The economy witnessed buoyant growth, with nominal GDP expanding by 20.3 per cent year on year in (Hijra) H1 2006 and a real GDP growth of 6 for the year as a whole is forecast.
Much of the buoyant performance in H1 came on the back of the 36.8 per cent year on year jump in oil exports, although non-oil exports also performed solidly, increasing by 11.6 per cent year on year. Despite this robust economic expansion, inflation remains relatively low (2.2 per cent year on year in August), albeit increasing from a low average of 0.7 per cent in 2005.
The high oil price will also result in the fiscal and current account surpluses reaching record levels in 2006.
Part of the fiscal surplus has been used to continue to reduce government debt levels and it is estimated that total debt will fall below to 20 per cent of GDP by the end-of 2006. This is compared to a peak of 119 per cent of GDP in 1999.
Meanwhile, reserves have also been increasing, although much of the Kingdom's oil income has been directed towards foreign assets, rather than official reserves. Net foreign assets of the Saudi Arabian Monetary Agency (SAMA) have increased sharply, reaching SR756.9b.in Aug, up 32.1per cent from end-2005.
The high oil price and increased government spending has mitigated any wider impact of the fall in the stock market on the economy, although many individual retail investors have been hard hit. After steep falls in Q1, the Tadawul All Share Index (TASI) has seen further corrections from end-October. The index had fallen by 52.1 per cent year to date and by 17.7 per cent from end-October. The main area likely to have been negatively affected is consumer spending, especially for luxury goods. However, along with the higher spending, the government has taken measures to soften the blow; including reducing gasoline and diesel prices by around 30 per cent...
The government has also announced measures to support the stock market. This includes indicating in August that investment institutions and pension funds from other GCC countries will be able trade directly on the TASI. Furthermore, in November, the Capital Market Authority (CMA) issued long-awaited corporate governance guidelines. However, given the guidelines are voluntary; their impact is likely to be limited.
A number of IPOs are planned, which will help to increase the number of companies listed on the TASI. Demand for IPOs has remained relatively strong, despite the weakness in the stock market. Overall, these measures are positive for the development of the stock market, but are unlikely to restore confidence in the short term.
Along with measures to support the stock market, Saudi Arabia has forged ahead with its investment and reform programme to boost the country's economic potential and create new jobs. Throughout the year, the government has continued to announce a raft of new investment projects in a wide variety of areas, including increasing oil and gas, refining, petrochemicals, infrastructure, mining and steel.
The need for upgrading infrastructure was highlighted by the electricity and water shortages over the summer. Total planned investment over the next 5 to 6 years is estimated to be over SR 750b, with a large proportion of investment in the non-oil sector coming from the private sector.
This higher level of investment, along with current spending from the government, will be important in supporting real GDP growth in 2007. This is especially the case given that net exports are forecast to detract from real GDP growth, with oil production expected to fall, along with oil prices.
Meanwhile, the import bill is forecast to increase with the higher investment level. As a result, the real GDP growth in 2007 will slow to an estimated 5 per cent.
On the reform front, the plans for Saudi Arabian Airlines have been redefined and bids have already been solicited for the catering arm of the airline. The government has also indicated it plans to reorganise the postal service and sell 49 per cent of some operations. The government also has announced the expansion of King Abdullah Economic City, the development of four new economic cities in different areas and tax breaks for foreign firms investing in underdeveloped regions.
Jan 18, 2007, 9:22 AM
is anyone worried about rising sea levels with all this construction along the shoreline and the artificial islands?
Jan 25, 2007, 6:26 AM
Some of these billion-dollar masterplans for city constructs are almost ridiculous. In more detail, the general concensus by these developers are: "If we build it, they will come." Yet, no care and consideration is taken into account when environmental, sociological, and economic implications of these developments are absent.
These cities are great for science-fiction movies, but just because you build it, it doesn't mean real-world investment will come.
Jan 26, 2007, 12:56 PM
well....that's in ur point of view cypherus, but beleive me they will come, there r many reasons y they will come
Feb 10, 2007, 1:15 AM
Apr 8, 2007, 3:30 PM
Rabigh International Stadium "King Abdullah Economic City"
Installed seating capacity of 54,000 fans
Jul 24, 2007, 5:59 AM
anything new yet ??????
Aug 20, 2007, 10:05 PM
Aug 20, 2007, 11:26 PM
Apr 13, 2008, 1:59 PM
Google map of Saudi Arabia's economic cities (http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&msid=111677958881244709102.00044a5aa138016110f30&t=h&ll=22.755921,42.583008&spn=20.175627,21.972656&z=5&source=embed) - King Abdullah Economic City, Jizan Economic City, Medina Knowledge Economic City, Tabuk Economic City, Prince Abdulaziz bin Mosaed Economic City, Sudair Industrial City and Ras al-Zour Resource City.
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