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King Abdullah Economic City Port to Open Next Year, Nadhrah Says
King Abdullah Economic City, a $27 billion development on Saudi Arabia’s Red Sea coast, will open its port next year, a port official said. The port will have a capacity of 1.5 million containers a year, Hamdi Nadhrah, head of business development at the Red Sea Gateway Terminal in Jeddah, told a Middle East Economic Digest conference in Abu Dhabi.
ESI International to present project management seminar in Saudi
With massive multi-billion dollar regional developments underway such as Abu Dhabi’s Masdar City and Saudi Arabia’s King Abdullah Economic City, poor project requirements can unnecessarily cause developers and their contractors valuable time, money and jobs, according to a leading project management expert.
Top 10 project management trends for 2011: Leadership skills tops the list
Additionally, as mega-projects at the King Abdullah Economic City north of Jidda and King Abdullah Financial District on the outskirts of Riyadh kick into high gear, more opportunities for work in the Middle East will become a reality.
$60b in defense deals expected to lift Saudi economy
Saudi Arabia’s five planned economic cities, including the 173 square km King Abdullah Economic City, will become a major target of these investments, according to Grant Rogan, the chief executive of Blenheim Capital Partners, a consulting and financial advisory firm that specializes in defense deals. Other high-interest areas include education, information and communications technology and homeland security.
Saudi mega cities challenge the private sector
he planned infrastructure expenditures on these mega cities are enormous, totalling some $140 billion in the first phase. The largest is the King Abdullah Economic City at Rabigh on the Red Sea coast, with a planned area of 168 million sq meters and $ 80 billion in basic infrastructure cost.
SAUDI ARABIA: First foreign-accredited degrees plan
Saudi Arabia General Investment Authority (Sagia) has signed a letter of intent with US-based Georgia Institute of Technology to build a Saudi campus to be ready for opening next year, according to press reports. Located in King Abdullah Economic City – a residential and industrial hub being built north of Jeddah on the Red Sea – the new campus will focus on supporting an industrial base in the Economic City, particularly the aerospace, electronic and engineering industries.
Emaar bonds could be upsized to $500m
Emaar Properties, the UAE’s largest listed real estate developer said yesterday that the company has placed $450 million (Dh1,652) of convertible bonds due in 2015 with a potential to upsize the issue to $500 million. In a filing to the Dubai Financial Market (DFM) the company said the notes (bonds) have a coupon of 7.5 per cent and will be convertible into Emaar’s shares.
First Hotelier Great GM Debate hailed a success
The inaugural Hotelier Middle East Great GM Debate was lauded by some of the region’s top hoteliers on Wednesday. Held at the Jumeirah Beach Hotel, the event provided workshops for GMs with feedback sessions and panel discussions. Plans are already in place to take the event to Saudi Arabia in December and involve more general managers from across the GCC.
