Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Aqeer project to attract SR50bn investments  Join our daily free Newsletter

MENAFN - Arab News - 06/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Aqeer beach project, located in Ahsa Province, is expected to attract SR50 billion in investments over the next 25 years once the infrastructure works are completed.


Local media quoting businessmen said 80 percent of the investments were expected to come from Saudi and other GCC firms, particularly Qatari and the Emirati investors.


Aqeer beach was selected for development as a major tourist destination in the Kingdom, following a strategic partnership between Al-Ahsa Governorate and the Supreme Commission for Tourism and Antiquities (SCTA), Al-Hayat daily quoted experts as saying.


Al-Ahsa Governorate embarked on mega developmental projects in this regard, including a recreational zone with integrated services spread over an area of 570,000 square meters while the shoreline extends over 1,000 meters, said Abdullah Al-Arfaj, head of construction and projects.


The recreational area will include lakes, islands, bridges, water games extending over an area of 30,000 square meters in addition to landscaped land covering 120,000 square meters. The area will also include large trees and shrubs, a mosque, toilets, restaurants and chalets, he said.


Earlier, the Council of Misters agreed to allocate about SR1.4 billion to meet the basic infrastructure requirements of the project, of which SR1 billion will be utilized for power connection and the remaining SR400 million for water and sanitary services.



The infrastructure works in Aqeer were taken up following the establishment of Aqeer Development Company with a capital outlay of SR2.7 billion last September. The infrastructure projects will give a big boost to the development of Aqeer, which is being jointly worked out by the SCTA and Al-Ahsa Governorate, Al-Arfaj said.


Entry of investors in the project in later stages of development is expected to give a significant boost to attract tourists from different parts of the Kingdom and neighboring countries, he said.


Businessman Ibrahim Al-Dosari believes that the project will turn out to be the biggest investment of its kind in the region due to its proximity to Gulf ports and with Al-Ahsa being one of the biggest agricultural oasis in the world.


Economist and businessman Walid Al-Kathir said all the targets of the project can be achieved if implementation is dealt with seriously. It has the potential to become the leading tourist destination in the Kingdom, he added.

 


Arab News




  MENA News Headlines
 Jun 27 2016 - Gartner Says By 2020, a Corporate "No-Cloud" Policy Will Be as Rare as a "No-Internet" Policy Is Today Hybrid Will Be the Most Common Use of the CloudMENAFN Press
(MENAFN Press) By 2020, a corporate "no-cloud" policy will be as rare as a "no-internet" policy is today, according to Gartner, Inc. Cloud-first, and even cloud-only, is replacing the defensive ...

 Jun 27 2016 - EGA PRODUCTS RATED FOR SUSTAINABLE BUILDING BY LEED AND DGNBMENAFN Press
(MENAFN Press) Products manufactured by Emirates Global Aluminium ("EGA") – one of the world's five largest producers of primary aluminium – have been declared suitable for sustainable building ...

 Jun 27 2016 - Egypt needs two decades to recover GDPMENAFN
(MENAFN) Egypt's economy is currently facing a chain of challenges that require a different solution to lead it to growth, former head of the Egyptian Businessmen's Association said."Egypt's economy ...

 Jun 27 2016 - Kempinski Hotel & Residences Palm Jumeirah Launch the Exclusive Beach Club MembershipMENAFN Press
(MENAFN Press) Introducing the new Beach Club membership, the luxurious Kempinski Hotel at Palm Jumeriah welcomes UAE residents to experience the recreational facilities for a month, six months or an ...

 Jun 27 2016 - UAE- OIC calls on authorities in Myanmar to investigate destruction of a MosqueEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) JEDDAH, 27th June, 2016 (WAM) -- The Secretary-General of the Organisation of Islamic Cooperation, OIC, Iyad Ameen Madani, has urged the authorities in ...

 Jun 27 2016 - UAE- FNC's first session of 16th legislative chapter concludesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI, 27th June, 2016 (WAM) -- Noura Al Kaabi, Minister of State for Federal National Council Affairs, has said that discussions during the first ...

 Jun 27 2016 - UAE- Senior officials, intellectuals and media at Sharjah Media Centre Iftar banquetEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SHARJAH, 27th June, 2016 (WAM) -- Senior Sharjah government figures, heads of departments, intellectuals and members of media attended a lavish Iftar ...

 Jun 27 2016 - UAE- Popular Party led by acting Prime Minister wins Spanish general electionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) MADRID, 27th June, 2016 (WAM) -- The center-right Popular Party, led by acting Prime Minister, Mariano Rajoy, has won the repeat Spanish general election ...

 Jun 27 2016 - UAE- KF launches campaign to distribute food parcels to families in Gaza StripEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) GAZA, 27th June, 2016 (WAM) -- The Khalifa bin Zayed Al Nahyan Foundation, KF, yesterday launched a campaign to distribute food parcels to the ...

 Jun 27 2016 - UAE- Emirates Transport delegation visits school bus factory in ChinaEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI, 27th June, 2016 (WAM) -- A delegation from Emirates Transport, ET, has visited a factory for school buses in China in order to be briefed on new bus ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help