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FINANCIAL NEWS
KSA to allocate USD9b for beach developments
09 Dec 2013
(MENAFN) Saudi Arabia is planning to allocate USD9 billion to develop beaches on the east coast to transform it into a tourist destination, Arabian Business reported.
Vice president of the Saudi Commission for Tourism and Antiquities stated that Al Uqair Development Company had drawn investments at USD4.5 billion to the area with general investments expected to hit USD9 billion.
The project is set to create 37,700 direct jobs and 56,000 indirect and seasonal jobs.
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