Page 28 - KAEC PR REPORT - MARCH 2024

3/13/24, 11:20 AM EEC and the Mohamed Yousuf Naghi Group forge strategic partnership with land sales agreement

EEC and the Mohamed Yousuf Naghi Group forge strategic partnership with land sales agreement
EEC and the Mohamed Yousuf Naghi Group forge

strategic partnership with land sales agreement

The strategic investment move by the MYN Group is aimed at increasing their
investments in KAEC and underscores the rapid development and growth KAEC has

witnessed, solidifying its status as a prime destination for businesses and third-party
developers

Press Release

March 12, 2024

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 Mr.
Mansour A. Al Salem, MD and BOD Member of EEC, Mr. Cyril Piaia, CEO of EEC, and Mr. 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.

The strategic investment move by the MYN Group is aimed at increasing their investments in KAEC

and underscores the rapid development and growth KAEC has witnessed, solidifying its status as a
prime destination for businesses and third-party developers.

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