May 21, 2018
The Economic Cities Authority (ECA) participated in the Sustainable Housing Forum recently held at the King Abdullah Petroleum Studies and Research Center in Riyadh. The forum was attended by Prince Abdul Aziz bin Salman bin Abdul Aziz, state minister for energy affairs and chairman of the executive committee of the Saudi Energy Efficiency Center; Essam H. Al-Mubarak, governor of the Real Estate General Authority; and other officials. The forum, which aims to review the best global sustainability practices in relation to the local market, also witnessed the participation of global experts, decision-makers and local market specialists.
Representing ECA, Ahmad Al-Sharif, director of municipalities and urban planning, delivered a presentation titled “Towards Sustainable Modern Cities,” addressing the PPP-based business model applied in the economic cities and the responsibility of the ECA on the one hand and the master developers on the other hand. The presentation aimed at contributing to sustainable development and the localization of the national capital by attracting quality investments that are in line with the objectives of Vision 2030.
“ECA contributes to social development in the Kingdom by providing a favorable living environment that guarantees residents, visitors and workers of the economic cities a unique quality of life. This is in addition to recognizing the environmental, economic and societal gains, as well as creating the right balance to guarantee long-run continuity as an integrated, active system,” Al-Sharif said.
He added: “In this context, ECA, in partnership with the private sector, is keen on applying sustainability practices starting from the legislation stage until the operation stage, as well as receiving feedback and suggestions for reviews and improvements in order to retain the benefits and offer sustainable, high quality and highly efficient real estate services and products for the housing sector within the economic cities for this generation and those in the future.”
On the sidelines of the forum, ECA, represented by Director General of Real Estate, Municipality and Urban Planning Abdulaziz M. Almohimeed, signed a memorandum of understanding with the Saudi Real Estate Institute, represented by managing director Fawzi S. Al-Oyouni.
The memorandum aims to achieve integration and compatibility between training programs and the business needs inside economic cities to create an attractive real estate environment.
It also aims to qualify national talents and promote job opportunities.