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JLL suggests the energy hub will boost the country’s downstream petrochemicals sector JLL suggests the energy hub will boost the country’s downstream petrochemicals sector

JJL: SPARK to Fuel Saudi Real Estate Demand

The development of King Salman Energy Park (SPARK) is set to boost sectors of Dammam Metropolitan Area's (DMA) real estate market and in the long term contribute to Saudi Arabia’s national Gross Domestic Product (GDP), according to JLL's latest relevant report.

According to the global professional services firm, SPARK is one of the largest investments in the Eastern Province and, in line with Saudi Vision 2030, is being undertaken by Saudi Aramco.

JLL’s report suggests SPARK will serve as an economic catalyst, creating tens of thousands of jobs in a global industrial hub for energy-related manufacturing services, boosting the office sector in the DMA area.

As part of the National Transformation Program, the energy park is estimated to contribute SAR22.5 billion (USD6 billion) to the national GDP annually once developed by 2035.