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Fahd Al Rasheed, chief executive officer of Emaar, E.C, and Mohammad Al Muallem, senior vice-president and managing director of DP World UAE region, signing the KAEC Sea Port agreement. Behind them are Dr Jubarah Al Suraisiri, Saudi Minister of Transport; Sultan Ahmad Bin Sulayem, chairman of Dubai World; Amr Al Dabbagh, Governor of the Saudi Arabian General Investment Authority, and Mohammad Al Abbar, chairman of Emaar. Image Credit: Gulf News Archives

2008 Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City, and global marine terminal operator DP World signed a memorandum of understanding (MoU) to develop and operate the seaport of KAEC. Under the patronage and presence of Dr Jubarah Al Suraisiri, Saudi Minister of Transport, Amr Al Dabbagh, Governor of the Saudi Arabian General Investment Authority, hosted the signing event at King Abdullah Economic City, and in the presence of Mohammad Al Abbar, chairman of Emaar, Sultan Ahmad Bin Sulayem, chairman of Dubai World and other Saudi government officials and entrepreneurs. The seaport will be the largest in the Red Sea and one of the world’s top 10 ports with a capacity to handle 20 million TEU.

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