Saudi to invest USD26.6m fund in tourism sector

20 Apr 2015

(MENAFN) The Investor for Securities Company in Saudi Arabia is set to inject an unprecedented tourism fund of about USD26.6 million in Dana Bay Resort in Half Moon Bay of the Eastern Province (EP), Arab News reported.

The undertaking aims at increasing tourism in the EP, in which Dana Bay Resort contains a number of hotels, resorts, entertainment projects, chalets and markets. The whole project has an estimated value of about USD1 billion.

“The company is keen to cooperate with national companies specialized in the development of tourism projects to build chalets and develop tourism facilities at Dana Bay Resort.” The Saudi Commission for Tourism and Antiquities’ (SCTA) director said.

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