Emaar EC reports on progress, new contracts at KAEC

Emaar the Economic City (Emaar EC), the developer of King Abdullah Economic City (KAEC), has signed a number of new contracts covering construction and infrastructure work at the economic zone, the developer said in a report.

Emaar EC also provided an update on overall progress made within KAEC’s industrial, commercial and residential districts and other related projects.

Within the residential areas, a shopping mall at Al-Murooj has been completed and the finishing work on a 147-villa community is currently being carried out. Golf courses and a sports complex are also under development.

A contract was inked with Zuhair Ahmed Zahran & Co. to work on some hotel units.

Four of King Abdullah Port’s berths have been built, which span a total of 1,470 meters. Up to 94 percent of land work and 99 percent of marine construction have been completed.

The first phase of KAEC’s Industrial Valley has been completed. A SAR 26.6 million contract to build warehouses and ready-made factories was signed. The project is currently in its second phase, which involves infrastructure and utilities work.

A SAR 4 million contract to develop the design for KAEC’s re-export zone area has been signed.

Contracts worth a combined SAR 90 million have been signed to execute the infrastructure work inside KAEC and its main roads. As many as 22 communication towers have been completed.

Emaar EC signed a contract with Al-Hokair Group to build a 4-star hotel, 40 percent of which will be owned by Emaar.

Dubai-based Emaar Properties holds a 33 percent stake in the Saudi-listed Emaar EC.