Thursday, May 26, 2011 3:52 AM

Source: Middle East Company News)The Saudi Arabian Ministry of Finance has signed a loan agreement with Emaar, The Economic City (Emaar.E.C), a Tadawul-listed company, for SR5bn to accelerate the development of the second phase of King Abdullah Economic City (KAEC), the largest of its kind private sector development in the region.

About Emaar Properties PJSC:

Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure and financial services sectors.

Emaar inaugurated Burj Khalifa, the world’s tallest building, and has opened The Dubai Mall, the world’s largest shopping and entertainment destination.

In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region’s largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.

Emaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. For more information, visit http://www.emaar.com.

For more information, please contact:

Kelly Home / Nivine William

ASDA’A Burson-Marsteller

Tel: (+971 4) 334 4550

(c) 2011 Middle East Company News. Provided by ProQuest LLC. All rights Reserved.

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http://www.istockanalyst.com/business/news/5184127/saudi-arabian-government-signs-sr5bn-loan-agreement-with-emaar-the-economic-city