KAEC sells land to real estate company: report

18/10/2015 Argaam

King Abdullah Economic City (KAEC) has inked a deal to sell a 75,000 meter square plot of land to Tesra Real Estate Co. for it to set up a distribution and logistics services center, Al-Riyadh newspaper reported.

 

The report didn’t mention a value for the sale.

 

KAEC is currently developing infrastructure on more than 25 million square meters of land after it managed to attract more than 100 local and global companies to this zone.

 

King Abdullah Economic City is a megaproject that is being implemented by Emaar Properties on a total development area of 173 square kilometers along the Red Sea coast at a total cost of around SAR 207 billion.

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