Fahad Al-Rashid, Managing Director and CEO of King Abdullah Economic City, confirmed that the city aims to attract investments exceeding 46 billion riyals over the next five years, through 2020.

He added that the city has come a long way in its development, noting that work has begun on the King Abdullah Economic City port, which now has a capacity of 1.3 million containers and will increase to four million containers within two years. He added: “The capacity includes transshipment, export, and import containers.”

Regarding residential areas within the city, he noted the development of 6,000 housing units for workers with low, middle, and high incomes, adding that the location determines the supply and prices of these units.