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Emaar

October 5, 2008 6:01 by kippreport

Looking like nothing else that currently exists in Saudi Arabia – in case you hadn’t guessed, the image here is a simulation – King Abdullah Economic City (KAEC) will be about the size of Washington, D.C., with a hoped-for population of 1.8 million in 2025. It’s just a construction site on the coast north of Jeddah now, population zero – not including the workers toiling away to build it. Emaar has a strong role in developing KAEC, as the master developer is an affiliate company called Emaar the Economic City, a publically traded Saudi company in which Emaar has a large stake. Whether this mega-mega-development ends up being as big as planners hope depends on how much foreign investment the kingdom can draw, since the government plans on spending not a single riyal building it.

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