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Emaar EC AGM behind the KAEC development
30 May 2008
In the meeting, the project co-ordinators were praised for managing to attract a strong investor response during the intial phase.
Fahd Al-Rasheed, chief executive officer of Emaar.E.C, was also approved at the meeting as a board member of the company.
Abdullah Saleh Kamel, vice-chairman of Emaar.E.C, thanked shareholders for their confidence in the KAEC project, saying it was inspiring to have so much support for the project.
"The response to the launch of the first phase has been strong with investors from around the world leveraging on the growth opportunities offered by KAEC in several high-growth sectors including the Sea Port, Industrial Zone and Residential Communities," he stated.
Property and economic development in Saudi Arabia comes following the country's Kingdom's Vision 10x10 initiative to have one of the strongest economies in the world by 2010.
Source: Adfero
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