Page 18 - KAEC PR REPORT - APRIL 2024

4/12/24, 12:56 PM Emaar, the Economic City appoints Mr. Abdulaziz Alnowaiser as CEO, effective 1st May 2024 - MAAAL NEWS
drive meaningful progress for our development projects. We would like to thank Eng.

Cyril Piaia for his commitment and success in the role of CEO over the years, and we

are delighted that he will remain with us to continue to advise our new CEO.”

The Board of Directors expresses its profound gratitude to Eng. Piaia for his

outstanding leadership and contribution to ECC and KAEC, and is confident that Mr.

Alnowaiser will build on this solid foundation to propel the Company forward.

About King Abdullah Economic City

King Abdullah Economic City (KAEC) is an emerging destination centrally located on

the Red Sea coast of Saudi Arabia. Located a short distance north of Jeddah, KAEC is

a 185 square kilometer city anchored by King Abdullah Port—recently named by the

World Bank as the most efficient port in the world—and KAEC Industrial Valley, which is

focused on logistics and light manufacturing. Over 100 multinational and Saudi
companies have already made their home in KAEC, engaging in diverse activities

ranging from advanced logistics to automotive, pharmaceuticals, FMCG, packaging,

and building materials manufacturing. KAEC is directly connected to the Haramain high

speed railway network and the Saudi National Highways grid, making the city a key

node along the Red Sea economic corridor.

KAEC also offers a modern leisure and tourism district which includes over 40km of

pristine coastline, several hotels and the award-winning Royal Greens international
tournament golf course. In 2021, the city welcomed over 1 million visitors, and has

developed a range of lifestyle residential communities for its growing population of full-

time residents and second home owners.

With its strategic location, advanced infrastructure and investor-friendly regulation,

KAEC is a ready-made platform for Saudi Arabia’s Vision 2030 initiatives. The city

serves as a testbed for new government initiatives, has been host of pioneering national
events, and is a preferred site for large-scale, strategic projects across many key

sectors. A prime example of the country’s commitment to private-public partnership,

KAEC is actively contributing to national objectives embodied in Vision 2030, from

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