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3/13/24, 11:21 AM EEC and the Mohamed Yousuf Naghi Group forge strategic partnership - Middle East News 247

EEC and the Mohamed Yousuf Naghi Group forge

strategic partnership

By Middle East News 247 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.

Mr. Mansour A. Al Salem, MD and BOD Member of EEC, emphasised the strategic importance of attracting
third-party developers and investors to drive development at KAEC. “The agreement with the MYN Group
rd
underscores our dedication to fortifying strategic partnerships with 3 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.” he added.

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