Saudi tourism project set for $13.3bn investment.

A beach project in the south-eastern Saudi Arabian province of Ahsa is expected to attract $13.3bn (SAR50bn) in investments over the next 25 years, businessmen related to the project have told local media.

Up to 80% of the investments in the Aqeer Beach project, on which infrastructure works are currently ongoing, are expected to come from Saudi and other GCC firms - particularly Qatari and the Emirati investors.

Abdullah Al-Arfaj, head of construction and projects at Aqeer Development Company, said the entry of investors in the project in later stages of development is expected to boost the number of tourists to the resort from different parts of the Kingdom and neighboring countries.

Aqeer was selected as the location to develop a major new tourist destination in the Kingdom by a strategic partnership between Al-Ahsa Governorate and the Supreme Commission for Tourism and Antiquities (SCTA).

constructionweekonline.com