Page 36 - KAEC PR REPORT - MARCH 2024

3/13/24, 11:21 AM PRESSR: EEC and the Mohamed Yousuf Naghi Group forge strategic partnership with land sales agreement — TradingVie…
PRESSR: EEC and the

Mohamed Yousuf Naghi Group

forge strategic partnership

with land sales agreement

Mar 12, 202416:43 GMT+4

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

underscores our dedication to fortifying strategic partnerships with 3rd 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

https://www.tradingview.com/news/reuters.com,2024-03-12:newsml_Zaw4CL0mz:0-pressr-eec-and-the-mohamed-yousuf-naghi-group-forge-strat… 1/2