Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Emaar Economic City to raise SR1bn  Join our daily free Newsletter

MENAFN - Arab News - 06/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Jeddah: emaar economic city (emaar) plans to raise sr1 billion to help finance construction of the king abdullah economic city and will spend sr13 billion developing the saudi arabian project over the next four years.

the company a unit of emaar properties expects to arrange the loans from two or three banks before the end of 2016 fahd al-rasheed ceo of emaar economic city was quoted as saying in a media report.

'our business plan doesn't call for more than a billion riyals" he added in the bloomberg report.

'we're spending about sr13 billion over the next four years which is a significant amount but we are doing a lot of it through sales. our cash flow is healthy."

kaec as the project is known will include a port and business district as well as residences and resorts. it will be built over 168 square kilometers accordingo the project'??s website.



about 70 companies such as drugmakers pfizer inc. and sanofi and french energy producer total sa (fp) have already leased land to build plants and a further 30 companies may sign up before the end of the year al-rasheed said.

emaar economic is building 6000 housing units at the project located on the coast at rabigh and is seeking to double that amount every year over the next five years he said.

about 2800 people are living in the city he said.

an industrial zone covering 28 million square meters is also being developed inside the city and is due for completion in 2016 al rasheed said. the project will also include 10 hotels by 2020.

kaec's container-port terminal is already operational and will have the capacity to handle about 1.3 million 20-foot equivalent unit containers by the end of the year he said.


 


Arab News




  MENA News Headlines
 Sep 25 2016 - RasGas awarded five-star rating byMENAFN Press
(MENAFN Press) RasGas Company Limited (RasGas) has been awarded a five-star rating by the British Safety Council subsequent to an Environmental Audit, and the Occupational Health and Safety Audit. ...

 Sep 25 2016 - An Alliance with Microsoft, Tigo Business, Lenovo and Zepto marks ITWORX’s expansion into AfricaMENAFN Press
(MENAFN Press) As the first of a series of strategic initiatives that aims to expand the company’s operations into Africa, ITWORX has partnered with Microsoft, Tigo Business, Lenovo, and Zepto to ...

 Sep 25 2016 - ITWORX Education calls for “Children in Distress: Back to School”MENAFN Press
(MENAFN Press) Sharing his vision in addressing educational challenges facing Syrian refugee children, Hatem Sallam, CEO of ITWORX Education, led a special presentation titled “Children in Distress: ...

 Sep 25 2016 - Drama series dominated Arabic series productions in 2016MENAFN Press
(MENAFN Press) A new report from the Arab Advisors Group profiles 24 production houses in five Arab countries. The report analyzed 97 series produced in 2015 and the first seven months of 2016. ...

 Sep 25 2016 - Adoption of New Technologies Can Boost Regional Oil & Gas Sector in Face of Global CompetitionMENAFN Press
(MENAFN Press) Adoption of new technologies can boost the region’s energy sector in output and competitiveness at a time of reduced oil prices and global competition from new suppliers, according to ...

 Sep 25 2016 - Arab League Secretary-General meets UN Yemen EnvoyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) CAIRO, 25th September, 2016 (WAM) -- Dr. Ahmed Aboul-Gheit, Arab League Secretary-General, has met with Ismail Ould Cheikh Ahmed, the UN Secretary-General's ...

 Sep 25 2016 - UAE- Yemeni Ambassador offers condolences to family of martyr Saeed Al FalasiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 25th September, 2016 (WAM) -- Fahad Saeed Al Menhali, Ambassador of the Republic of Yemen, has visited the family of nation's martyr, Saeed Anbar Al ...

 Sep 25 2016 - UAE supports WFP in fighting hunger in YemenEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) NEW YORK, 25th September, 2016 (WAM) -- The United Nations World Food Programme, WFP, has welcomed a contribution of US$6 million from the UAE to provide ...

 Sep 25 2016 - UAE's most inspirational educators to be honoured at Qudwa Teachers' ForumEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th September, 2016 (WAM) -- The Ministry of Education, MoE, and Abu Dhabi Education Council, ADEC, have announced that the Qudwa Teachers' ...

 Sep 25 2016 - UAE- EGA announced as Platinum Sponsor of Metal Bulletin International Aluminium ConferenceEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 25th September, 2016 (WAM) -- The Emirates Global Aluminium, EGA, has announced that it is the Platinum Sponsor of the 31st edition of the Metal ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help