The development of key quality of life social infrastructure such as healthcare facilities, community centers, family mobility options and exciting retail experiences are an important part of everyday life for Saudi families and young professionals.
We made significant progress in living infrastructure, health and education during 2019.
We also delivered high-quality housing for rental and purchase. We announced new housing development plots, continued to strengthen our strategic engagement with the Ministry of Housing on affordable housing solutions for Saudi families, put in place financing arrangements for mortgages, and boosted our healthcare provision. Hospitals received new investments, and agreements were signed with some of the world’s best education providers.
A happy, healthy population
The year began with an agreement by KAEC and Jamjoom Pharma to develop a specialized destination hospital on a 100,000 m2 site. The hospital will initially comprise 150 beds, rising to 500 on full completion. The development is in a strategically important location for Jamjoom Pharma, connecting to all western province cities within an hour’s travel. It is also an important contribution to realizing Vision 2030, improving the quality of life for those who work or live in KAEC and the surrounding regions.
We also appointed Majestic Millennium (2M), as the new operator of the Family Medical Center (FMC) through a lease free model that resulted in a SAR 11 million reduction of operating expenses and a decrease in subsidies, an improvement in the quality of services, British certified physician, and increased scope of FMC’s medical service portfolio.
Majestic Millennium is now accountable for delivering medical services within FMC’s current scope, covering all operating expenses, equipment upgrade and maintenance, access across all health insurance categories, alliances with private hospitals and the creation of training programs that will create a new generation of Saudi healthcare professionals.
Majestic Millennium will also provide access to the financial/operations systems to understand the polyclinic’s performance, together with operational and financial dashboards. Combined, these developments delivered higher quality healthcare – and better access to it.
Educating for impact
The city’s strategy for education led to significant progress in 2019, with the appointment of EduReach as the new school manager for King's College.
EduReach is a leading international school owner and operator with a portfolio across eight countries. Developed in partnership with prestigious UK independent schools, it provides children attending King's College with the finest education by blending hundreds of years of British tradition with Saudi Arabia’s rich culture and history. The partnership is a major component of the school’s transformation into a premium British boarding school.
We also established Tomouh Academy, which will enable male and female students to compete for jobs with some of the most prominent national and international companies operating at KAEC. The initiative is part of KAEC’s annual Tomouh (‘Ambition’) program running under the banner ‘My Future… My Responsibility.’
MBSC’s inaugural graduation
Prince Mohammad Bin Salman College of Business and Entrepreneurship (MBSC) has become a catalyst for socio-economic growth as it meets the needs of Saudi Arabia’s dynamic labor market. In May 2019, 68 men and 25 women graduated from MBSC – the college’s inaugural group of graduates.
Established in 2017 through a strategic partnership between KAEC, the Misk Foundation, Babson College and Lockheed Martin Company, MBSC provides students with academic programs, educational curricula and practical experience. The quality of graduates from MBSC illustrates that it has become a leading institution and an important part of the city’s educational ecosystem.
A place to call home
We made great progress in 2019 with the KAEC housing strategy, providing thousands of new residential plots for villas and apartments, six new residential brands, and a significant uptick in the number of sold units and net orders.
We are very excited to have launched the stunning Orchids Residential Community in 2019 – a gated residential complex designed to the highest international standards of affordable living to complement KAEC's housing strategy and cater for all customer and income segments.
Orchids covers 755,000 m2, consisting of 110 ready land plots with areas ranging between 250- 600 m2, with prices starting from SAR 222,888, five-year flexible payment plans, and zero interest rates. These affordable terms are an important part of our commitment to providing families and professionals with a range of high-quality housing options that prioritize excellence, security and comfort.
Other new brands announced in 2019 include Azalea, an upscale community of 59 high-quality, fashionable residential villas across 29,500 m2 scheduled to be handed over in early 2020.
Highlights of 2019 include the provision of 372 contemporary apartments at the beautifully designed and landscaped Waha Springs – a family-focused district brought together by a network of walking and cycling trails, 24/7 security, gymnasiums, sport facilities, parks and a mosque. We also completed 147 luxury villas at Al Murooj Golf Community 2, featuring Spanish and Mediterranean inspired architecture.
