The King Abdullah Economic City project in Saudi Arabia has announced the completion of Beach 1 and Beach 2 Towers, built on the coastal edge of the massive master-planned development. The developer of the Beach Towers, the Saudi Binladin Group, handed over the two towers Sunday in a special ceremony attended by a number of senior executives.
King Abdullah Economic City (KAEC) is a megaproject launched in 2005 by Saudi Arabia, which is endeavoring to complete five competitive, modern cities within a period of 15 years. KAEC, developed by a subsidiary of Emaar, is planned to cover 168 square kilometres and house more than 2 million people, clustered around a new industrial district, schools, commercial space and the Red Sea's biggest port.
"We welcome the accession of the first two Beach Towers to the list of KAEC completed projects and are happy to start the handover process of the residential units to our customers," Fahd Al Rasheed, managing director and CEO of KAEC, said at the ceremony.
The Beach Towers contain 232 residential units, which were reportedly designed to address the city's need for luxury apartments.