Emaar, The Economic City (EEC) Company Profile

Background

Overview

Emaar, The Economic City (EEC) is the master developer of King Abdullah Economic City (KAEC), a 185-square-kilometer city located on the Red Sea coast of Saudi Arabia, near Jeddah. Established in 2006, EEC is a publicly listed Saudi company, with 25% ownership by the Public Investment Fund (PIF). The company serves as the master planner, primary infrastructure developer, enabler, and facilitator for KAEC.

Mission and Vision

EEC's mission is to develop KAEC into a leading global economic hub by providing world-class infrastructure, fostering economic growth, and enhancing the quality of life for its residents and businesses. The vision aligns with Saudi Arabia's Vision 2030, aiming to diversify the economy and reduce dependence on oil exports.

Primary Area of Focus

EEC focuses on the comprehensive development of KAEC, including residential, commercial, industrial, and leisure sectors. Key components include King Abdullah Port, the Industrial Valley, and the Coastal Area, which encompasses tourism and residential developments.

Industry Significance

As a master developer, EEC plays a pivotal role in Saudi Arabia's real estate and infrastructure sectors, contributing significantly to the nation's economic diversification efforts. The development of KAEC is central to attracting foreign direct investment and promoting non-oil exports.

Key Strategic Focus

Core Objectives

Infrastructure Development: Establishing state-of-the-art infrastructure to support diverse economic activities.

Economic Diversification: Attracting multinational and local companies to operate within KAEC, thereby reducing reliance on oil revenues.

Sustainable Growth: Implementing sustainable development practices to ensure long-term viability and environmental responsibility.

Specific Areas of Specialization

Logistics and Manufacturing: Developing the Industrial Valley to host logistics and light manufacturing industries.

Tourism and Leisure: Creating a modern leisure and tourism district with over 40 km of coastline, hotels, and recreational facilities.

Residential Communities: Building diverse residential communities to accommodate a growing population of full-time residents and second homeowners.

Key Technologies Utilized

EEC employs advanced technologies in urban planning, construction, and infrastructure management to ensure efficiency and sustainability. This includes smart city technologies, renewable energy solutions, and integrated transportation systems.

Primary Markets or Conditions Targeted

Global Investors: Attracting foreign direct investment through favorable regulations and strategic location.

Tourism Sector: Developing attractions to boost tourism and related industries.

Manufacturing and Logistics: Providing facilities and incentives for companies in these sectors to establish operations within KAEC.

Financials and Funding

Funding History

EEC has secured significant funding to support the development of KAEC. In April 2025, the company raised $77 million in a funding round.

Total Funds Raised

The total funds raised by EEC amount to $77 million.

Notable Investors

The Public Investment Fund (PIF) holds a 25% stake in EEC, reflecting its confidence in the project's potential.

Intended Utilization of Capital

The capital raised is intended for the continued development of KAEC, including infrastructure projects, residential and commercial developments, and initiatives to attract businesses and residents to the city.

Pipeline Development

Key Pipeline Candidates

King Abdullah Port: Serving as a major logistics hub, it is central to KAEC's economic activities.

Industrial Valley: Aimed at hosting logistics and light manufacturing industries.

Coastal Area: Developing tourism and residential facilities to enhance the city's appeal.

Stages of Development

King Abdullah Port: Operational and recognized as one of the most efficient ports globally.

Industrial Valley: Ongoing development with facilities for various industries.

Coastal Area: Under development, with plans for hotels, recreational facilities, and residential communities.

Target Conditions

The developments aim to create a conducive environment for businesses, residents, and tourists, fostering economic growth and enhancing the quality of life.

Relevant Timelines for Anticipated Milestones

Specific timelines for each development phase are outlined in EEC's strategic plans, with ongoing progress updates available through official channels.

Technological Platform and Innovation

Proprietary Technologies

EEC utilizes proprietary technologies in urban planning and infrastructure management to ensure the efficient development of KAEC.

Significant Scientific Methods

The company employs advanced urban planning methodologies, sustainable construction practices, and smart city technologies to create a modern and efficient urban environment.

Leadership Team

Key Executive Profiles

Abdulaziz Ibrahim Alnowaiser: CEO of King Abdullah Economic City since May 1, 2024.

Professional Backgrounds

The leadership team comprises professionals with extensive experience in urban development, infrastructure, and real estate, contributing to the strategic direction and growth of EEC.

Competitor Profile

Market Insights and Dynamics

The real estate and infrastructure development market in Saudi Arabia is experiencing significant growth, driven by Vision 2030 initiatives aimed at economic diversification and urban development.

Competitor Analysis

EEC's primary competitors include other major real estate developers in the region, such as Dar Al Arkan and Jeddah Economic Company. These companies are also involved in large-scale urban development projects and contribute to the competitive landscape.

Strategic Collaborations and Partnerships

Significant Collaborations

EEC collaborates with various governmental and private entities to facilitate the development of KAEC, including partnerships with the Public Investment Fund (PIF) and other stakeholders.

Operational Insights

Strategic Considerations

EEC's strategic considerations include maintaining a competitive edge through innovative development practices, ensuring sustainable growth, and effectively managing large-scale infrastructure projects.

Strategic Opportunities and Future Directions

Strategic Roadmap

EEC's strategic roadmap involves the continued development of KAEC, focusing on attracting businesses and residents, enhancing infrastructure, and contributing to Saudi Arabia's Vision 2030 objectives.

Future Business Directions

Future directions include expanding the Industrial Valley, developing additional residential communities, and enhancing tourism and leisure facilities to position KAEC as a leading global economic hub.

Contact Information

Official Website

For more information, visit the official website at kaec.net.

Social Media Profiles

LinkedIn: Follow Emaar, The Economic City on LinkedIn for updates and news.

This comprehensive profile provides an overview of Emaar, The Economic City, highlighting its mission, strategic focus, financials, development pipeline, technological innovations, leadership, competitive landscape, and future directions.