Saudi Arabia is developing its coastline as part of plans to transform the economy and cut its reliance on oil. The project will cover 90 islands and 28,000 square kilometres (11,000 square miles). The kingdom is also developing a cultural, sports and entertainment city, a $500 billion futuristic city, known as Neom, and a luxury destination on its northwest coast.
The first phase of the Red Sea project is expected to be completed by 2022. When fully-completed in 2030, the company expects the development to create as many as 70,000 jobs and contribute as much as $5.9 billion riyals to the kingdom’s gross domestic product.
Source: www.arabianbusiness.com
