Emaar, The Economic City is a Saudi Arabia-based joint stock company engaged in the development of the King Abdullah Economic City (KAEC), which is located 120 kilometers north of Jeddah on the Red Sea Coast, in Saudi Arabia. The Company is involved in the development of real estate in the economic or other zones and other development activities, including infrastructures, promotion, marketing and sale of land within development areas, transfer/lease of land, development of buildings/housing units, construction on behalf of other parties and development of economic areas. The Company’s subsidiaries include wholly owned Industrial Zones Development Company Limited (IZDCL), Economic Cities Real Estate Development Co(RED), Economic Cities Real Estate Operating and Management Co (REOM), and Economic Cities Pioneer Real Estate management Co (REM). EEC also maintains a 50% stake in PDC, the company which develops and owns King Abdullah Port Co.