King Abdullah City-World's largest private sector investment
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Length: 9:30
Description: www.kingabdullahcity.com/en
In what is part of the "Dawning of a new age in Saudi Arabia", Saudi Arabia the largest economy in the Middle East and one of the fastest growing economies of the world, has come up with a concept of Economic mega cities(yes....cities in their own right), as part of its severe and immediate economic reforms, being built that will utilize the country's core resources while providing employment and homes for its citizens and for the first time, opening massive projects for tourism similiar to the kind found in neighbouring gcc countries, but with a challenge of promoting a non- alcoholic and non sex exploited industry. The first of these is the King Abdullah Economic City, an industrial and financial complex being built north of Jeddah on the Red Sea coast. The cost of construction, which began in 2005, is $26.7 billion. EMAAR a dubai based holding company and in charge of several projects of dubai, is the prime partner and this is its largest project ever. In addition to King Abdullah City, three other integrated economic cities were launched last year: Hail, in the north, Medina in the west, and Jizan in the far southwest. Construction on a fourth city, at Tabuk in the north, is due to begin later this year.
The cities are being developed in accordance to the cluster concept and are being modeled on Silicon Valley and similar conurbations in Singapore and Ireland.
The ultimate objective of the economic cities is the establishment of ten global industries in which Saudi Arabia will be number one or two.
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Author: meetahmed
Source: YouTube
