Emaar, The Economic City (Emaar EC), the Tadawul-listed company developing King Abdullah Economic City (KAEC), yesterday said it will commence sales of plots in Bay La Sun Village.
Third-party developers can enjoy full ownership of land for undertaking residential, commercial and multi-purpose buildings, and also benefit from KAEC's advanced infrastructure including smart city capabilities and district cooling.
The plots are located in the 250,000 square metre Bay La Sun Village, which is the first fully-integrated residential community in KAEC. They are also in close proximity to the business park and other amenities including a world-class hotel, shopping mall and restaurants. Work on the business park is nearing completion, and work on other amenities is progressing as per schedule.
Fahd Abdul Mohsen Al Rasheed, Board Member and Chief Executive Officer, Emaar EC, said: "KAEC has established itself as a premier development in the region offering high-growth opportunities in several key economic sectors. By offering plots for sale to third-party developers, we are extending the opportunity for investors to become an integral part of this project, which is envisaged to usher in a new era of socio-economic prosperity for the kingdom."
Sami Al Halabi, Acting Executive Director-Commercial, Emaar EC, said: "Demand for strategic plots for development is strong in Saudi Arabia, and several regional developers are looking at opportunities in the kingdom. The premium location of the plots within Bay La Sun Village ensures that investors are part of a vibrant community, with the first homes and offices to be delivered later this year."
The infrastructure support offered to buyers of the plots include ready water, power and sewage networks, roads and navigable canals, and information and communication technology.