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3/15/24, 11:09 AM EEC Forges Partnership with Mohamed Yousuf Naghi Group
EEC Forges Partnership with Mohamed Yousuf Naghi Group

The agreement envisions at advancing the growth and development of the megaproject - King
Abdullah Economic City
March 14, 2024 | Staff Reporter | KSA | Developers

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Emaar, the Economic City (EEC), and Mohammed Yousuf Naghi Group (MYN GROUP) marked a key milestone by
signing a Land Sales Agreement recently at the King Abdullah Economic City (KAEC) headquarters. During the
signing ceremony, attended by key representatives, including Mansour A Al Salem, MD and BOD Member of EEC,
Cyril Piaia, CEO of EEC, and Samir R Samara, Authorised General Manager, Executive Committee and Board
Member of Arabian Spare Parts & Maintenance Company (ARSAMCO), a MYN Group company, both parties signed
this agreement that reflects the growth of trust, strategic partnership and collaboration, aimed at advancing the
growth and development of King Abdullah Economic City.

With Saudi’s real estate poised to experience a massive boom in 2024, the strategic investment move by the MYN
Group is aimed at increasing their investments in KAEC. It also underscores the rapid development and growth
KAEC has witnessed, solidifying its status as a prime real estate destination for businesses and third-party
developers.

The agreement with the MYN Group underscores our dedication to fortifying strategic
partnerships with third party investors that contribute to sustainable economic growth
and development within KAEC. We are optimistic about the potential opportunities
that this collaboration will unveil. As KAEC continues its path of sustained
development within Vision 2030, such partnerships reflect the combined efforts that
foster economic progress and prosperity in Saudi Arabia.

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