King Abdullah Economic City (KAEC), a special economic zone in Saudi Arabia, has announced the establishment of a new “Select Real Estate Services” department.

The new unit is a specialist in providing resale and rental services for residential units and land already purchased by investors in KAEC.

“The new department demonstrates that the city is pressing on towards achieving its strategic goals of diversifying its income by attracting national and international capital, and providing total housing solutions,” remarked Fahd Al Rasheed, the group chief executive and managing director of KAEC.

"This new department is part of our commitment to create an environment that stimulates development and investment by providing the best services for our clients," he noted.

Ayman Mansi, the senior director, New Business Ventures in KAEC, said: "The time has come to develop a secondary real estate market in the economic city, in response to the success and growth in residential properties. Select Real Estate Services will add value and also an opportunity for current property owners to generate higher profitability and revenue."

Al Rasheed said these services projects coincide with others that help solidify the status of the economic city with investors who seek to do business in a modern environment that furnishes advanced infrastructure, sophisticated services, great logistics, and comprehensive industrial, commercial, community, and entertainment facilities.

"Also, the Industrial Valley is home to many national and international corporations, thanks to its direct connection with King Abdullah Port, set to be the region’s biggest seaport," he pointed out.

"The city is also home to one of the Haramain Railway stations, which will add to the city’s land and sea connections with the world. All of these factors make the city the ideal place to invest and live," he added.-TradeArabia News Service