Real Estate

Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has entered into a strategic partnership with hopOn, a fast-growing smart city solutions provider for public and shared transportation. This partnership marks a significant step towards enhancing sustainable mobility solutions - including providing smart transport and smart parking - with a focus on sustainability and carbon neutrality in line with Saudi Vision 2030, within the KAEC community.

The official agreement was signed last week in Riyadh by Cyril Piaia, CEO of Emaar, The Economic City, and Jamil Naji Jamjoom, Co-Founder and CEO of hopOn, in the presence of Mansour Al-Salem, Managing Director of Emaar, the Economic City alongside other key representatives, at the two-days Public Investment Fund (PIF) Private Sector Forum.

Under the agreement, KEAC will leverage hopOn’s expertise in mobility solutions to create a seamless and efficient transportation network within the city, catering to the diverse needs of its residents and visitors. This includes facilitating last-mile mobility from the Haramain train station to key districts and destinations in the city, implementing various bus routes, and providing on-demand busses, e-shutters, and vans, along with options for two-wheel scooters, three-wheel scooters, mechanical bikes, and electric bikes.

Additionally, innovative smart transport as well as smart on-street and off-street parking solutions will be integrated, allowing people to book ad-hoc rides and reserve parking spaces through a smart mobile app. This collaboration underscores KAEC’s commitment to developing a world-class, integrated lifestyle city that adds to the socio-economic prosperity and sustainability of Saudi Arabia.

During its participation at the PIF Private Sector Forum, KAEC highlighted a spectrum of opportunities for public-private partnerships in the city across various sectors, including hospitality, entertainment, commercial, residential, and industrial. Hosted by PIF, the main stakeholder of Emaar, The Economic City, the forum aimed to enhance partnerships between the PIF portfolio companies and private sectors while spotlighting avenues for local collaboration in key strategic sectors.

Cyril Piaia, CEO of Emaar, The Economic City, said, “Our goal at Emaar, The Economic City, is to promote sustainable economic growth while improving the overall experience for both residents and visitors. Through our participation in the PIF private sector forum, we are making progress towards our goal of steering socio-economic development in the Kingdom of Saudi Arabia while also attracting third-party investors from the private sector in line with the Kingdom's Vision 2030 strategy.”

“Another significant milestone is our collaboration with hopOn, which exemplifies our ongoing commitment to innovation and excellence in every aspect of urban living. In addition to improving mobility within the city, our combined efforts will raise the bar for intelligent urban developments worldwide. Our residents and visitors can look forward to a seamless and integrated mobility experience, regardless of whether they are commuting to work or simply touring the community,” he added.

Jamil Naji Jamjoom, Co-Founder and CEO of hopOn commented, “hopOn is committed to building smarter, more connected cities with seamless, sustainable, and universally accessible transportation. We are dedicated to transforming urban mobility, as demonstrated by our partnership with Emaar, The Economic City. KAEC’s commitment to innovation and excellence is perfectly aligned with hopOn’s mission, and we look forward to joining forces to improve mobility experiences for both residents and visitors.”

The second edition of the PIF forum successfully brought together PIF companies and Private Sector companies to spur significant economic growth investments. With its mission to develop and shape transformative urban living experiences, KAEC is well-positioned to boost Saudi Arabia's economic and social development through impactful partnerships and endeavours.

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