The King Abdullah Economic City (KAEC for short) is an important part of the Saudi Arabian image and with the signing of a couple of contracts recently it is going to be getting a business park to go along with everything else.
Emaar Economic City (EEC for short) is a subsidiary unit of the famous Emaar Properties, which is based in Dubai and has recently become one of the most successful developers of all time with projects all over the Gulf Coast. Recently, Emaar Economic City has started construction on different projects within the KAEC and one of those projects is a business park that will form an integral part of the city when completed.
The park will be built in Bay La Sun Village, with is a residential community that has been integrated into the KAEC.
For building the first stage of the business park, EEC has decided to turn to Freyssinet Saudia Arabia, a well respected building company in the area. When the first stage of the city is complete, it will have five office buildings and will have cost almost SAR 350 million (almost USD $93 million). The stage is expected to be completed by the end of the year and the contract between the two companies includes whatever time it takes for the buildings to be constructed.
One of the five office buildings that are part of the stage one construction will be given over to the Saudi Arabian General Investment Authority (SAGIA) for short. SAGIA has been the main facilitator in the KAEC but as of yet does not have a central base of operations, which is why they are being given one of the five office buildings. Another building has been earmarked for use by Emaar and both of these buildings are set to have basement parking that is two stories in height.
