Along the coast of the Red Sea and equipped with a state-of-the-art deep-water port, a new purpose-built business hub in taking shape in Saudi Arabia.
King Abdullah Economic City, is a $100 billion project and will be the world's first publicly listed city. A new rail link means nearby cities of Jeddah, Mecca and Medina are just an hour away and the port should have a capacity of 4 million containers by 2016, according to King Abdullah Economic City CEO Fahd Al-Rasheed.
"The idea behind the King Abdullah Economic City is to diversify the economy," Al-Rasheed told CNBC.
The city, established in 2010, includes a residential area which includes homes, schools as well as shops and restaurants. Presently, it's building more business zones and family homes.