USD 146 Million Contract to Develop King Abdullah Economic City

Emaar The Economic City has awarded a SAR 547 million (USD 146 million) infrastructure contract to Nesma and Partners Contracting Company for development works in the Industrial Valley and Special Economic Zone at King Abdullah Economic City on the Red Sea.

The scope of the contract includes the first phase of the King Salman Automotive Cluster, a manufacturing hub that hosts companies such as Ceer, Lucid, Hyundai, and Pirelli.

King Abdullah Economic City spans approximately 185 square kilometres north of Jeddah and is anchored by King Abdullah Port. Its Industrial Valley is focused on expanding Saudi Arabia’s logistics and light manufacturing capacity, with more than 100 multinational and local companies operating in the area.

The awarded works cover infrastructure for the launch phase of the automotive cluster within the Industrial Valley, forming part of broader efforts to develop industrial and manufacturing ecosystems.

Public Investment Fund holds a 55.5% stake in Emaar The Economic City and a 30% stake in Nesma and Partners Contracting Company, reflecting state-backed investment in the project.