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Prince Abdulaziz bin Mousaed Economic City

Article - December 5, 2011
The Prince Abdulaziz bin Mousaed Economic City (PABMEC), also denominated Skyscraper City, will soon rise in the vast desert in the northern region of Hail. It is set to be MENA’s most modern transportation and logistics hub, strategically located at the crossroads for navigational, trade and transportation routes between East and West
Transportation infrastructures will include an international airport expected to serve three million passengers per year, a railway station for two million annual passengers, and a dry port and operations center capable of handling over 1.5 million tons of cargo.

Furthermore, the railway system and road connections will expand to connect with Jordan, Iraq and Madinah. With an estimated investment of $8 billion, the city is expected to generate 55,000 new employment opportunities.
IT IS SET TO BECOME THE MENA REGION’S MOST MODERN TRANSPORTATION AND LOGISTICS HUB

PABMEC will also include specialized zones for agricultural, petrochemical and mining industries. Business, residential and recreational areas will of course be present as a population of 300,000 is expected to reside in the city.

Development of PABMEC has been assigned to Al Mal Investment. The company, an experienced developer with a proven track record, has created a new entity, Al Mal Economic City Holding Company (AMECHC), to develop PABMEC. AMECHC holds 64 shares in equity of the $1.3 billion capital set for the city’s development.

The developer has created nine specialized companies to control operations for different project components. Partners collaborating in the development include SABIA and the Kuwait-based private group, Kharafi.

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