Emaar, The Economic City awards real estate smart city consultancy contract to Orange Business Services
• Smart modern solutions for King Abdullah Economic City
Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a real estate smart city consultancy contract with Orange Business Services, the business services arm of France Telecom.
Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.C, signed the agreement with Mr Philippe Koebel, Senior Vice President of Emerging Markets & Indirect Channels, Orange Business Services, in Jeddah, recently.
Mr Al-Rasheed said: “The agreement with Orange Business Services reflects our commitment to developing King Abdullah Economic City to the highest standards possible. Orange Business Services has an outstanding track-record for the quality of the work they have executed globally. This agreement will add more value to the Smart City capabilities of KAEC and enhance the lifestyle of residents and tenants.”
Mr Koebel said: “The engagement of our teams on this consultancy project to oversee the design of their smart city services for KAEC, reflects our focus on the real estate sector in the Middle East. Just as important is the fact that we are working with Emaar, one of the most sophisticated and successful real estate developers in the world.”
For KAEC, envisaged as a Smart City, broadband connectivity is extremely important as a single IP network can support demands for entertainment, information, and business communications as well as the essential building services such as security, home automation and safety systems. Multiple networks can run over one infrastructure that facilitate automation and remote monitoring of services, for example.
“Smart cities are proving not only more attractive to prospective tenants and occupiers but also offer lower costs in terms of maintenance and management, whilst offering the potential to bring in additional non-rental revenues to developers,” added Mr Koebel.
Leveraging on its substantial international experience - particularly its focus on the real estate sector in the Middle East region - Orange Business Services will act as trusted advisor and consultant to Emaar.E.C on the design of the mega project that will deliver world class, competitively priced and innovative smart city services to residents and businesses alike over its infrastructure.
Mr Omar Al-Khudairi, Senior Director, Ethraa, The Smart City, said: “Following the vision of the custodian of the two holy mosques and under the supervision of the Saudi Arabian General Investment Authority, Emaar.E.C is setting new global benchmarks in the Smart City development of KAEC. The partnership with Orange Business Services further strengthens the direction of growth that has been envisaged for KAEC, and also offers investor the confidence of being associated with globally proven experts.”
King Abdullah Economic City, spread over 168 million sq m on the Red Sea coast, is the largest private sector development in the region, and has six key components – the Sea Port, Industrial Zone, Central Business District, Educational Zone, Resort District and Residential Communities.
Emaar.E.C has unveiled the first phase of the mega-project including the Sea Port, Industrial Zone and Residential Communities to overwhelming investor response. International and regional investments worth over SR130 billion has been announced in the mega-project, which is being developed as per schedule.
