Emaar The Economic City – Industrial Valley: Best Industrial & Logistics Mega Project Developer Global 2016
Building a city the size of Washington DC from scratch. That’s the mission Emaar committed to when it took charge of the planning and development of King Abdullah Economic City (KAEC) – an industrial, commercial, logistics, and lifestyle hub being erected on the Red Sea coast, some hundred kilometres north of Jeddah. The development covers an area of about 180km2 and had its master plan approved in 2005. In excess of 12 million square metres of building space has already been put into place, with another 16 million square metres to follow.
Planning and development of an undertaking on a scale this vast requires both attention to detail and a bird’s eye view of the whole enterprise in order to secure the full integration of all constituent parts. This is planning taken to a level thus far unheard of. The expert professionals of Emaar, responsible amongst others for the jaw-dropping marvels that gave Dubai its glitter, are charged with the building of an economic powerhouse that is to underwrite Saudi Arabia’s continued prosperity well into the future.
The leading edge of the megaproject is provided by the Industrial Valley – a business hub located at the very heart of one of the world’s most dynamic economic regions. Industrial Valley already hosts over ninety tier one global companies such as Pfizer, Ikea, Total, and Aramex, amongst others. The valley has been meticulously planned as a place where synergies spring forth and deliver consistent corporate growth. The zone is fully equipped to handle pharmaceutical, logistics, plastics, automotive, consumer goods, and building materials companies that wish to plug into both global and local markets.
During the design phase, Emaar emphasised integration and connectivity. That foresight is now paying off with a single regulator providing clear guidance, a land cargo bridge linking KAEC to the booming economies of the Gulf Region, and a multitude of services designed to optimise efficiency and thus maximise the profit potential. KAEC’s Industrial Valley is built on the premise that successful public-private partnerships require seamless services up to, and including, transparent rules guiding foreign direct investment.
Planning and developing a tightly integrated global manufacturing hub is an endeavour that can only be entrusted to professionals that can table experience, vision, and expertise in ample quantity. Emaar The Economic City – Industrial Valley is home to such professionals. The CFI.co judging panel has studied the company’s trajectory and admired its entrepreneurial spirit – bold while sensible, and visionary while grounded. The judges feel confident in declaring Emaar The Economic City – Industrial Valley winner of the 2016 Best Industrial & Logistics Mega Project Developer Global Award.