AMAAD Business Park
New business park creates hub that stimulates innovation and drives economic growth.
Aramco’s efforts to foster an innovation ecosystem, comprising King Fahd University of Petroleum and Minerals (KFUPM) and Dhahran Techno Valley (DTV), are gaining ground. DTV is already the world’s largest technology cluster encompassing petroleum energy-related R&D centers. But with the addition of the AMAAD Business Park, located in a prime location in the heart of Dhahran between KFUPM, Johns Hopkins Aramco Healthcare (JHAH), and Aramco, this innovation ecosystem is a state-of-the-art, comprehensive business park developed by the Dhahran Technology Valley Investment Company, a subsidiary of KFUPM.
Aramco has been a strategic partner for KFUPM since its establishment and key national champion of DTV since its inception. Championing an innovation ecosystem demonstrates the company’s commitment to the Kingdom’s Vision 2030 with its emphasis on economic and social growth and transition to a knowledge-based economy.
Collaboration between Aramco and KFUPM
In a recent meeting of the Aramco-KFUPM Collaboration Oversight Board, co-chaired by Mohammed Y. Al-Qahtani, senior vice president of Downstream, and Dr. Mesfer Al-Zahrani, KFUPM’s vice president for Academic Affairs, board members voiced strong support for this strategic project.
“AMAAD Business Park is the result of generational collaboration between Aramco and King Fahd University of Petroleum and Minerals, leaders in both the energy and education sectors,” Project Management vice president Abdulkarim A. Al-Ghamdi said. “AMAAD is set to become a world-class and exceptional energy and engineering district that will facilitate comprehensive economic development through creating a hub that stimulates innovation. With a strategic location and a variety of unparalleled amenities, AMAAD acts as a vehicle for attracting Foreign Direct Investments to the Kingdom, in alignment with the goals of Vision 2030.”
The AMAAD complex will include:
• Eight towers for offices, all ranging between seven and 10 floors
• Five towers for residential apartments, including a community center and masjid.
• 4-star hotel (216 keys), with associated serviced apartments (118 keys), and a 1,100 square meter multifunction room for conferences
• Commercial and retail spaces, restaurants and cafes.
“The AMAAD Business Park is a prominent address for premier businesses,” said Abdulatif Al Othman, chairman of the Board, Business Park Complex Company. “It is supported by the leading driving forces of Saudi economy and education; KFUPM and Saudi Aramco. We are certain that AMAAD will be the ultimate benchmark for real estate development with visible economic impact in Saudi Arabia and the region.”
“The project is driven by an inspiring vision that sees business parks as centers of innovation and development, that will facilitate sustainable urban growth, and attract international investment opportunities to the Kingdom, as part of Vision 2030’s goal to drive the Kingdom’s economic growth into new horizons,” added Towfiq Al-Abdulhadi, chief executive officer, Business Park Complex Company.
“The opportunities and amenities presented by the AMAAD Business Park are unprecedented in the Eastern Province and we hope that it will further attract investment opportunities from across the world into the Kingdom,” said Muhammad Al Saggaf, president of KFUPM.
The AMAAD complex will be built with an eye to achieving Leadership in Energy and Environmental Design (LEED) Silver certification, as defined by the U.S. Green Building Council. Offices, health care, residential, entertainment, and retail will all be available within a 10-minute walking radius, reducing the need for car trips. Indoor and outdoor water use will be designed for reductions of 45%, and overall energy savings are expected to reach 18% below that of traditional designs.
Aramco benefits by having local technology providers to meet its needs, and the Kingdom benefits from the tens of thousands of jobs that could be created by entirely new industries and service providers located here in Saudi Arabia.