Saudi economic city passes the IPO test
Financial centres contend for prominence
King Abdullah Economic City is being built on a greenfield site of 55 million square metres on the Red Sea coast and will be a mixed-use development. The project will be completed in stages with the first businesses and residents expected to move in during 2009.
The components are:
The port
A 2.6 million square metre seaport similar in size to Rotterdam, which would make it one of the top 10 largest ports in the world, enabling it to take the world’s largest vessels.
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