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June 14th, 2006, 09:16 PM
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#1 |
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Saudi plans $8bn economic city in north
Two announced, three to go
 Saudi plans $8bn economic city in north Saudi Arabia has announced plans to build a northern economic city at a cost of $8 billion. The city, to be built over 10 years, will host agricultural and mineral industries, an education zone and a residential area with 30,000 housing units The city will be built over 10 years and host agricultural and mineral industries, an education zone and a residential area with 30,000 housing units. King Abdullah announced the project at a ceremony in Hail, 720 km north of Riyadh. The city will cost SR30 billion ($8 billion), an AFP report quoted a source in Rakisa Holding as saying. Rakisa Holding will oversee the project along with the Saudi investment authority Sagia and the High Commission for Hail Development. Saudi Arabia announced in December a plan to build the 'King Abdullah Economic City' north of Jeddah with investments of $26.6 billion. The 'Prince Abdulaziz bin Mousaed Economic City,' named after the first governor of the Hail region, an agricultural area rich in mineral resources that counts some 600,000 inhabitants, will have its own airport, a railway service and a dry dock, according to a leaflet and film released at the ceremony. Extending over 156 million square metres, it will also house 3,000 office units and a 'logistical supply and services centre”. "Hail lies on the crossroads of all navigational, trade and transportation routes for the Middle East, making it the perfect choice to embrace the Economic City," said an official. Some 80,000 people are expected to take up residence in the new city, which will have business and leisure centers. The venture, whose cost was confirmed by other officials at the launch, is part of efforts to boost less developed regions of Saudi Arabia and was announced by the Saudi monarch after a visit to the Eastern Province during which a number of economic projects were launched. Prince Abdulaziz bin Mousaed Economic City will consist of 12 strategic components. They are: Logistics and supporting services centre Agricultural industries and services Business centre Hail Airport Entertainment area Knowledge area Dry port Mining centre Residential areas Passenger station Petrochemical industries centre Infrastructure |
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June 14th, 2006, 10:27 PM
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#2 |
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Here is a rendering and sorry for the bad quality. I took it from a newspaper ad.
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June 15th, 2006, 04:21 AM
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#3 |
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another "economic" city...
hmm....i guess all the rest of the cities in saudi are non-economic or something.. |
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June 15th, 2006, 04:24 AM
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#4 |
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SUPER M0DERAT0R
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BD3bn city launched
15/06/06  By SOMAN BABY in Saudi Arabia HAIL: Bahrain has joined a major celebration in the city of Hail, Saudi Arabia, where the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz Al Saud launched the largest economic city in the Middle East for logistics and supply chain. The anchor investor of the BD3 billion project is the Bahrain-based Gulf Finance House (GFH). At a colourful ceremony attended by thousands of citizens and guests from around the world, King Abdullah awarded the project, named Prince Abdul Aziz bin Mosaed Eco-nomic City, to the people of Hail, a city located 600km north of Riyadh. Official representatives of the Bahrain government at the ceremony included Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and Economic Development Board (EDB) chief executive Shaikh Mohammed bin Isa Al Khalifa. The city will be developed by an investment foundation supervised by the Saudi Arabian General Investment Authority (SAGIA) and headed by Rak-izah Holding Company. It will be the second economic city launched by King Abdullah in seven months, the other being King Abdulla Economic City in Rabigh, launched at the end of last year. GCC royal family members and ministers as well as guests and media members from different parts of the world were transported by three special jets from Riyadh to Hail. The formal unveiling ceremony by King Abdullah and cultural programmes were followed by a gala dinner in the Hail Municipality precinct. In his inaugural speech, King Abdullah said the new economic city would inject BD3bn into the economy. It will create 30,000 housing units and 30,000 jobs for Saudi Arabia's youth, doubling the present workforce in Hail, he revealed. Shaikh Ahmed and Shaikh Mohammed, who earlier met King Abdullah, conveyed the greetings and congratulations of His Majesty King Hamad, the leaders and the people of Bahrain on the launch. "We are delighted to take part in the launch of another major economic development project led by King Abdullah and the Crown Prince Sultan bin Abdul Aziz," Shaikh Ahmed told the GDN. "Ever since the opening of the King Fahad Causeway, the relations between Bahrain and Saudi Arabia have been growing at a very fast rate. "The investment opportunities in both countries are also growing steadily." Shaikh Ahmed said the Saudi private sector, along with the government, was also contributing to the economic growth of Bahrain. Shaikh Ahmed said he was especially proud to see that GFH, a Bahraini company, as one of the major investors in the new multi-billion dollar project. Shaikh Mohammed said the EDB was proud to witness the launch of another massive economic development project in Saudi Arabia. "Hail is one of Saudi Arabia's attractive regions in terms of economic growth potential and investments both regional and international," he added. "Such projects serve as a motivation for Bahrain at a time when our country is pursuing a major economic reforms initiative." GFH board member and chief executive officer Esam Janahi said GFH was pleased to be a partner in the development of a new economic city in Saudi Arabia. "The Kingdom of Saudi Arabia has embarked upon a concerted effort to further develop its economy and create employment opportunities for its youthful population - with a specific emphasis on regional development," he added. "As part of this macro-level national agenda, the economic development of the Northern Province forms a key component of the mosaic of five special economic zones in five different regions." Hail offers a strong agricultural sector and the potential of large mineral resources waiting to be exploited, said Mr Janahi. "In addition, the Northern Province enjoys a more moderate climate than the capital Riyadh or the Eastern Province, making it also a potential destination of choice for local tourism," he added. SAGIA governor Amr Abdullah Al Dabbagh said Hail's strategic location as link between the East and the West would be leveraged by establishing the new city with the main element being the transportation and logistics services centres . link |
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June 15th, 2006, 09:24 AM
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#5 |
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gohorns,
This is one of the fve planned eonomic cities. SAGIA already annonced two, one in Rabigh and one in Hail. |
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June 15th, 2006, 09:48 AM
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#6 |
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riyadhi,
i'm aware of that.....which is why i said "another" economic city... i was just wondering what the point is of calling these cities "economic" cities.. ...i guess u missed the sarcasm when i asked if the other cities in saudi are non-economic... maybe it's just me...but i like attractive names...and when they're spending billions on these projects....i bet they could come up with better names... anyway...something catchy would be nice... |
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June 15th, 2006, 09:56 AM
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#7 |
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is the third going to be in or near tabuk? where are the rest going to be? i guess it would be interesting to know...and also their scale...
i don't know if any of them will be bigger than kaec tho.... |
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June 15th, 2006, 02:26 PM
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#8 |
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I think it will be either in Tabouk or Jizan.
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June 15th, 2006, 05:08 PM
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#9 |
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Saudi Arabia announces SR 30 billion Prince AbdulAziz bin Mousaed Economic City King Abdullah bin AbdulAziz Alsaud of the Kingdom of Saudi Arabia (KSA) and Custodian of the two Holy Mosques, has announced the launch of the Prince AbdulAziz bin Mousaed Economic City (PABMEC) in Hail. The announcement was made during an event held on June 13th to celebrate the King’s first visit to Hail since becoming monarch. PABMEC is set to be a premier commerce and industry hub promoting a diversified economy in the Kingdom of Saudi Arabia. The city will utilize 156 million square meters with total outlay reaching Saudi Riyal (SR) 30 billion (US$ 8 billion) over the next 10 years, which will be fully funded by the private sector. Implementation is slated to begin in September 2006. PABMEC is the second economic city launched by the King in seven months, with the first being the King Abdullah Economic City launched in Rabigh (west of Saudi Arabia) in December 2005. PABMEC will be developed by an investment Consortium supervised by the Saudi Arabian General Investment Authority (SAGIA) and headed by Rakisa Holding Company. The Consortium comprises companies from various GCC countries; from Saudi Arabia: Yousif bin Ahmed Kano Company, Ahmad Hamad Al-Qusaibi & Bros. Co., Tanmeeyat Group, Al-Rashid Trading and Contracting Co., Rashid bin Abdulrahman Al-Rashid & Sons Co., Abullatif and Company Group, Al-Jouf (Muflih Kayid) Co., and Hail Investment and Development Co. (under establishment); from the United Arab Emirates: Abu Dhabi Investment Authority, the Abu Dhabi Investment House, and the National Investment Co.; from the Kingdom of Bahrain: Gulf Finance House; and from Kuwait: Kuwaiti Investment Co., and General Warehousing Company which holds a stake in the largest logistics services company in the world, PWC Logistics. “The project aims to utilize the Kingdom’s second competitive advantage after energy - its strategic location as a link between East and West- and leverage it through the establishment of a fully integrated economic city providing transportation and logistics services. Produce and minerals arriving from the north of Saudi Arabia and surrounding areas within Hail region will be traded, marketed and processed to add value to the raw material,” said His Excellency SAGIA Governor Amr Abdullah Al-Dabbagh. He added that the project is a realization of the vision of the Custodian of the Two Holy Mosques and Crown Prince Sultan to develop the various regions of the country. Hail’s strategic location in the heart of the Kingdom’s north at the crossroads of nautical, transportation and supportive service paths and its proximity to 11 Arab capitals, has made it a prime destination to host the Prince AbdulAziz bin Mousaed Economic City. “The Prince AbdulAziz bin Mousaed Economic City will be the largest project of its kind in the Middle East for logistic and transportation services,” said Al-Dabbagh. His Excellency Sheikh AbdulAziz Al-Quraishi will be chairman-elect of the board of directors for the new company to be established to oversee the project. He previously held the position of Governor of the Saudi Arabian Monetary Agency (SAMA), and has also sat on the board of directors of a number of major corporations in Saudi Arabia, including the Saudi Industrial Investment Group. Abdullah Ibrahim Al-Rakhis, chairman of the board of directors of Rakisa Holding Company, the investment Consortium leader, said, “PABMEC is a leap forward not just for the Kingdom of Saudi Arabia but for the economy of the Middle East as a whole. The project will benefit various sectors of the economy and boost agriculture, mining and processing, education and residential developments. In addition, PABMEC will contribute to the expected doubling of per capita GDP in Hail within the next10 years.” Main activities of the Prince AbdulAziz bin Mousaed Economic City The city will become home to a number of activities which will form an integrated economic unit and represent the major economic stronghold of the Northern region. The following activities aim to utilize regional resources: • Logistics and Supply Chain • Education • Agriculture & Food Processing • Mining and Industry • Entertainment • Housing • Infrastructure • Logistics and Supply Chain The work plan has focused on utilizing the strategic location of Hail in building an infrastructure for transportation services, seeing that Hail represents a link to a number of trade routes. Therefore, an international airport and dry port will be established as well as a supply chain center and a multi-modal passenger station. Adding to that will be the distribution of nearly 1.5 million tons of products annually through the dry port and operations center planned on a 210 square kilometer area. The PMEC is also expected to service a high volume of visitors annually. • Education An entire zone will be dedicated to educational services provision in the form of colleges, research centers, vocational and training centers as well as public and private schools. The idea stems from the importance of spreading specialized education to feed market demand for specialized manpower. This will help increase the productivity rate and fuel the need for a strong, trained and skilled workforce. The education zone will be spread across 10 square kilometers and expected to serve nearly 40,000 students. • Agriculture Hail and the Northern region of Saudi Arabia are blessed with a sizeable agricultural output, prompting a special zone dedicated to agricultural services. The area will group a number of services that support and develop this economic sector through activities linked to the various stages of crop growing and harvest, processing and storage. The most important is an agricultural research center that serves the people of the region with the aim of increasing output whether in storage facilities or operating a number of plants. The produce will be designated for local and export consumption. • Mining and Industry PABMEC will host a number of conversion facilities in line with available resources in the region to add value to extracted raw materials. • Entertainment Given Hail’s location, geographic and historic surroundings, it was only natural to include an entertainment zone within this development. PABMEC is expected to attract nearly 700,000 tourists annually, providing additional investment opportunities in hospitality and tourism-related industries. Visitors will also benefit from a host of planned advanced healthcare facilities. • Housing SR10 billion (US$2.7 billion) out of the total funding were earmarked for the housing sector, which will witness the development of 30,000 housing units, accommodating nearly 140,000 inhabitants. • Infrastructure The investment in infrastructure will exceed SR 6 billion (US$1.6 billion) and will assist in improving the overall infrastructure of the region, especially with respect to telecommunications, water and power needs. It is expected the project will add 3,300 kilometers of paved roads to the region. About Rakisa Over the last 13 years, Rakisa Holding Company has invested in a number of telecommunications and infrastructure projects throughout Saudi Arabia and neighboring GCC countries. Rakisa believes in leading investment consortia comprised of Saudi and foreign investors who bring value-added input. Through its various investments, Rakisa has helped create 60,000 job opportunities, generate revenues in excess of SR 22 billion (US$5.8 billion), as well as manage assets in excess of SR 5 billion (US$1.3 billion).
Last edited by Riyadhi; June 15th, 2006 at 05:14 PM. |
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June 15th, 2006, 05:11 PM
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#10 |
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And another university for Hail,
Saudi Arabia begins construction of Hail University (MENAFN) Saudi King Abdullah will lay the foundation stone for the Hail University, during his tour of the region, which will aim also to open new water, educational, health and infrastructure projects worth more than $533 million. The Hail University campus covers an area of 20 million square meters and will include colleges of engineering, computer science, medicine, science and community as well as a university hospital. Hail University, which is one of the new institutions of higher learning established by the government as part of its efforts to provide educational facilities to students all over the country, is expected to cost $120 million. Earlier this year, plans was announced to establish two new universities in Tabuk and Baha, bringing the total number of government universities in the Kingdom to 17. |
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June 15th, 2006, 05:33 PM
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#11 |
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 This is not the rendring that I saw on TV. The one on TV had only the two tall towers. I think that they are the only part of the project, the rest are artistic vision of future projects. The Master Plan,  And here's the website of the project, http://www.rakisa.com/ |
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June 15th, 2006, 08:34 PM
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Quote:
Jizan would be a good idea but personally, I think its time both cities get a face lift. This is exciting times, KSA is modernizing itself in every city. If we can just get a new Jeddah Airport along with a Central Business District in Jeddah Saudi is rocking 
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June 15th, 2006, 10:39 PM
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#13 |
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i couldn't agree more.....jeddah needs a new airport more than anything else..
and the airport officials need to be replaced....the ones there are just lazy and incompetent...and rude....and so on... a central business district is long overdue....any idea what'd be a good location for it UofT? the old airport maybe? |
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June 15th, 2006, 11:01 PM
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#14 |
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Jeddah will get it's new airport soon.
gohorns, where are you from? |
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June 15th, 2006, 11:04 PM
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Quote:
I think as far as a Central Business District is concerned in Jeddah, there are new projects underway for the Organization of Islamic Countries new location. But for some reason Jeddah's financial capacity is ignored. Well with the King Abdullah Economic City underway, I'm not too sure if the Kingdom is going to further invest in Jeddah. I would rather have wanted a project like the KAEC as part of the Jeddah rejuvenation plan. |
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June 17th, 2006, 05:49 AM
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Quote:
very true....i think saudi arabia has failed to appreciate jeddah's true potential and things might get worse with the KAEC on the way... I would hate to see Jeddah become a giant suburb to the KAEC....that would be very unfortunate. With Emaar building the huge housing community, we could see Jeddah hosting more and more communities as opposed to business and finance centers. KAEC as part of Jeddah would have given the city a chance to claim its place among the other cities in the Gulf. Riyadhi, I am in Philadelphia, PA for the summer....will be moving to Baltimore, MD after that.. |
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June 18th, 2006, 03:10 PM
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#17 |
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June 18th, 2006, 03:12 PM
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And this is Hail University,
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June 18th, 2006, 08:14 PM
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I'm in love with these two towers,
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June 28th, 2006, 11:59 PM
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Hail economic city to become top Mideast logistics hub
Posted: Tuesday, June 27, 2006  Saudi Arabia’s Prince AbdulAziz bin Mousaed Economic City, which is set to become the largest transportation and logistics hub in the Middle East, is likely to see a total private sector investment of SR30 billion (around $8 billion) over the next 10 years, officials announced today. The project at Hail will exploit the region’s core strengths of location, agriculture, mineral deposits, moderate climate and wild beauty. Specialised clusters offer unique investment opportunities, officials added. Rakisa Holdings, and three members of the initial core group of regional investors – Gulf Finance House, Abu Dhabi Investment House and Tanmiyat Group, highlighted the business opportunities offered to regional and international investors by the City. The second in a series of new economic cities in Saudi Arabia being planned by the Saudi Arabian General Investment Authority (Sagia), the Prince AbdulAziz Bin Mousaed Economic City is a key element in Saudi Arabia’s recent initiative to further develop its economy, generate regional growth, and create employment opportunities for its youthful population. The new city will be developed at Hail in the Northern region of the Kingdom under the supervision of Sagia. Introducing the project, Engineer Abdullah Ibrahim Al Rakhis, chairman of Rakisa Holdings, said: “Rakisa is honoured to be developing this economically significant project in cooperation with a prestigious group of core investors – local, regional and international. Hail is one of the Kingdom’s most attractive regions in terms of economic growth potential and investment opportunities. “The region offers a strategic location, moderate climate, well-established agricultural sector, and the potential of large mineral resources waiting to be exploited.” Hail’s sound base in agriculture accounts for 70 per cent of the region’s employment in this sector, and 90 per cent of corn, 33 per cent of potatoes, and 31 per cent of barley produced in Saudi Arabia. Total annual production is in excess of 800,000 tons. There is enormous potential in pre-packaged foods, agricultural-related industries, and new technologies for more efficient use of water. Speaking on behalf of Gulf Finance House, chief executive officer and board member Esam Janahi, said: “The value proposition of the Prince AbdulAziz bin Mousaed Economic City centres around the development of a comprehensive transportation and logistics hub to take advantage of the region’s unique core strengths. “Projects such as this create a rare niche for a diverse range of private sector investment opportunities.” Rashad Janahi, chief executive officer of Abu Dhabi Investment House, said: “We are delighted to be working with Rakisa Holdings, and to be part of a prestigious core group of regional investors. “This includes Gulf Finance House, with whom we are collaborating on similar groundbreaking economic projects such as Energy City Qatar.” Covering an area of over 150 million square meters, the Prince AbdulAziz bin Mousaed Economic City will incorporate a cluster-based development comprising: transportation, logistics and supply chain centers; educational services; agricultural and food processing services; mining and commerce services; housing; and infrastructure. In the area of transportation, logistics and supply chain, an international airport is expected to capture three million passengers per year, while a railway station will cater for some two million passengers annually. Dry ports and operation centers will be capable of handling over 1.5 million tonnes of cargo annually. The region will also benefit from a new international airport and a major expansion of the Kingdom’s railway system, which will connect the main regions. In addition, major new highways are being constructed to link the Kingdom through Hail with Jordan, Iraq and also Madinah. Furthermore, Hail’s rich heritage, together with its wild beauty and moderate climate, make it a potential destination of choice for tourism. With over 260 historical and ancient sites, it is expected to attract over 700,000 visitors annually. Emphasising the strategic advantage of the location of Hail for the Prince AbdulAziz bin Mousaed Economic City, Sheikh Suleiman bin Abdul Aziz Al Majed, chairman of Tanmiyat Group, said: “Located in the heart of the Kingdom, Hail is equidistant from Jeddah, Riyadh and the Eastern province, and provides the perfect ’northern gateway’ to the Kingdom, linking a number of key trade routes. “It can be accessed by 12 Arab capitals in only one hour by plane and this we are sure would immensely add to the attractiveness of the project and enhance both shareholder value and returns.” As well as Gulf Finance House, Abu Dhabi Investment House and Tanmiyat Group, the initial core group of regional investors includes Al Abdulatif Group, Al Rashid Group, Al Qusaibi Group, BWC, Kanoo Group, Kuwait Investment Company, National Investment Company, Obekon Investment Group, PWC Logistics and Saudi Agricultural Group From: tradearabia.com |
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