(MENAFN - Arab News) Emaar Economic City is making steady progress in the development of King Abdullah Economic City (KAEC) in accordance with the strategic plan adopted in its first phase to invest heavily in infrastructure and necessary services, of which most important are the port and the industrial zone.
The objective is to attract investors from companies, factories and commercial and service enterprises to the Economic City, leading to population relocation and as a consequence, growth in demand for the company's real estate products and services.
The strategic plan at this current stage is based on the following drivers:
Continuation of development and construction operations in the Economic City with a focus on the port and Industrial Valley as they are the most important attractions for investors in KAEC as well as the key motivators for urbanization.
Continuation of work to attract companies, factories and commercial enterprises to the city which in turn will lead to the creation of new jobs inside the city and will incite the demand for real estate products and services.
The provision of diverse residential products that suit all segments of society and different income groups including middle and low income, through direct development by the company or development through third party developers.
The diversification of the base of real estate products offered by the company by putting forth industrial and residential land for sale specifically to provide liquidity to accelerate development in the city.
Proceeding to enter into strategic partnerships with the private and public sectors in various mega projects necessary to support and accelerate the building and development of the economic city.
Taking into consideration the best ways to manage and operate the Economic City and the provision of services to investors and residents at favorable prices.
In its short quarterly report, it highlights the latest accomplished projects within the Economic City according to the development strategy adopted.