SAGIA develops new work plan after evaluating KAEC progress

The Saudi Arabian General Investment Authority (SAGIA) has mapped out a new plan to accelerate work at King Abdullah Economic City (KAEC) after evaluating progress levels, said Abdullatif Al-Othman, SAGIA governor and chairman of the Economic Cities Authority (ECA).

Emaar the Economic City (Emaar EC) and ECA have already agreed on the new strategy, the Saudi Press Agency reported, citing Al-Othman.

King Salman had earlier recommended forming a joint team of businessmen, industrialists, ministerial officials, and related parties to stimulate local investment and encourage more businessmen to inject capital in the kingdom, Al-Othman added on the sidelines of the two-day investment forum held in KAEC.

KAEC is an integrated city developed by Emaar EC on an area of 180 km² located on the Red Sea coast to the North of Jeddah. It includes a waterfront up to 38 km².