Two more economic cities planned for Saudi Arabia

Published December 18th, 2006 - 08:10 GMT

As part of an effort to achieve balanced development throughout Saudi Arabia, plans were recently revealed by Kingdom officials to establish two more economic cities in the north and east of the country.

 

“Studies are under way to establish two new economic cities in the Northern and Eastern regions,” said Amr Al-Dabbagh, head of the Saudi Arabian General Investment Authority (SAGIA), according to Arab News.

 

Al Dabbagh added that the four economic cities launched by Custodian of the Two Holy Mosques King Abdullah in Rabigh, Hail, Madinah and Jizan offered lucrative investment opportunities in tens of giant projects.

 

Economic city projects, he pointed out, were receiving overwhleming support from the government. The four economic cities are expected to draw investment worth nearly SR300 billion ($80 billion).

 

“SAGIA encourages every Saudi and foreign investor who comes forward with an excellent investment initiative that conforms to its strategy and serves the Kingdom’s development plan." 


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