Riyadh – Mubasher: Saudi Arabia is looking to attract $20 billion in investments by 2035 for Al-Ula, a planned tourism destination, and will hold a roadshow for international investors before the end of 2019, the chief executive of the Royal Commission for Al-Ula said.
The would-be investments are expected to create 35,000 jobs and contribute a total of SAR 120 billion ($32 billion) to the kingdom’s gross domestic product (GDP) over the coming 17 years, Amr Madani told Reuters.
Located in a remote northwestern corner of the kingdom, Al-Ula is part of plans towards Saudi vision 2030 for boosting the non-oil economy.
The Saudi government plans to attract up to 2 million visitors per year to Al-Ula, starting with about 1,000 hotel rooms, in addition to desert camps.
