19:27, 06 May 2009 | GMT +5
KAEC hosts 28 world leaders next week
JEDDAH. May 6. KAZINFORM Twenty-eight present and former heads of state will attend the 27th session of the Council for International Understanding (CIU) at King Abdullah Economic City (KAEC) in Rabigh May 10-13. The event will also be attended by more than 200 Saudi and foreign political, intellectual and business leaders; Kazinform refers to the Arab News.

?The Kingdom?s hosting of the conference reflects the support of Custodian of the Two Holy Mosques King Abdullah for investment projects in the Kingdom,? said an official statement. ?The KAEC is considered the largest single private sector investment project in the Kingdom,? it added.
Projects like the KAEC would reduce the migration of Saudis from less developed area to the cities, said Fahd Al-Rashid, board member and CEO of Emaar Economic City.
Total investments in the city reached SR4.8 billion last year. The number of engineers and technicians working in the city rose to 13,000 while the number of housing units sold in 2008 reached 1,124 with a total value of SR2 billion.
A number of industries have started building their facilities in the city.
?The KAEC has been successful in attracting huge foreign investments during the past few years,? the statement said; Kazinform cites the Arab News.
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