Emaar EC sees factories, tourism boosting results in coming years

Emaar The Economic City’s financial performance is expected to strengthen over the coming years as factories and tourism projects begin operations, the company’s chief operating officer said.

The COO’s comments came during a briefing on the development of King Abdullah Economic City, the large-scale project on the Red Sea coast that includes industrial zones, residential areas, and a seaport. The company has been working to attract industrial tenants and expand tourism infrastructure as part of a long-term plan to diversify revenue beyond real estate sales.

Emaar EC did not provide a specific timeline for when the projects would start contributing to earnings. The COO said the impact would materialize over a period of “a few years.”