Emaar, the Economic City (EEC), and Mohammed Yousuf Naghi Group (MYN GROUP) marked a key milestone by signing a Land Sales Agreement recently at Saudi Arabia's King Abdullah Economic City (KAEC) headquarters.
The strategic investment move by the MYN Group is aimed at increasing their investments in KAEC and solidifies KAEC's 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. “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.
Mr. Samir Samara, Authorised Representative of the MYN Group, said: “We are delighted to sign this agreement. We believe that KAEC has immense potential in light of its rapid development, which led us to increase our investments in the city. We believe that this move will open up new avenues for mutual collaborations and will present opportunities for contributing to drive the region’s economy.”
