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Saudi Arabia is building a $100 billion megacity along the coast of the Red Sea. Announced in 2005, King Abdullah Economic City (KAEC) is Saudi Arabia’s attempt to diversify its economy. Saudi Arabia wants to lessen its dependence on oil and wants to make KAEC a leader in logistics and manufacturing. Once completed, KAEC will be larger than Washington, D.C., and the city will have a population of 2 million people. The city is nowhere close to being finished. Only 10,000 people call KAEC home, and so far the city is only 40% complete. Despite setbacks, Saudi Arabia is confident that KAEC can continue to grow and increase its population. King Abdullah Port is one of the fastest-growing ports in the world, and KAEC’s Industrial Valley is home to major corporations like IKEA, Mars Incorporated, and Pfizer. KAEC is becoming a tourism hotspot in Saudi Arabia thanks to its luxurious hotels, pristine beaches, and high-end restaurants. KAEC has a world-class golf course, and the city is easily accessible from other parts of Saudi Arabia thanks to the Haramain high-speed rail. KAEC has numerous schools and universities, including an aviation school and business school. KAEC plans to open a culinary institute in the near future. KAEC is facing stiff competition from another futuristic megacity in Saudi Arabia. NEOM will be 33 times the size of New York City and cost as much as $500 billion. Watch this video to learn all about King Abdullah Economic City in Saudi Arabia.
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