Riyadh-Mubasher: King Abdullah Economic City (KAEC) was not impacted by tumbling oil prices, said Fahd Hamidaddin, KAEC's chief marketing officer.
He added that the industrial cities proved the truthful vision of the Saudi government as decline in oil prices was a real challenge for the cities which are developed by the private sector, Makkah newspaper reported.
A total of 30 factories are being built at KAEC, Hamidaddin said, adding that KAEC signed contracts with other 100 factories.
However, he ruled out rumors about the city's instability.
