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FINANCIAL NEWS
Hospitality projects in Saudi Arabia to reach USD2.5bn this year
18 Sep 2017
(MENAFN) This year will be a record year for new hotels opening in KSA, with Riyadh being the busiest area trailed by Jeddah, hotels and leisure construction contractor awards will reach USD2.5bn worth.
In April, Saudi’s Public Investment Fund proclaimed its plans to construct the largest cultural, sports and entertainment city in the world.
Moreover, the kingdom is also broadening its hospitality market in an offer to spread the national economy.
In the GCC, the hotels and leisure construction contractor awards are projected to post a 13 percent increase, from USD11.237mn in 2016 to USD12.716mn this year.
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MENAFN1809201700450000ID1095871329
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