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Building on Saudi hopes
Saudi Arabia is also building six “economic cities”, including the $26.6bn King Abdullah Economic City, as part of a plan to promote private investment and generate jobs for a population in which one in five are under 25. “There is a strong will from Saudi Arabia to focus on such projects,” says Ali Kolaghassi, the vice president of corporate business development at Saudi Oger, one of the country’s biggest contractors. “The projects will be to accommodate Saudis in desperate need of schools, housing, retail, etc.”
$35 billion boost for GCC maritime sector
Maritime projects worth $35 billion will be implemented in the next three years across the GCC, including three major projects in Saudi Arabia at King Abdullah Economic City, Jizan Economic City and the Kingdom City, said an expert. “Saudi Arabia remains strongly positioned to contribute to establishing the GCC as a premier boating hub because of the government’s proactive development initiatives,’ said Al Ahlam Marine Tourism Group chairman Prince Abdullah bin Saud bin Mohammed bin Abdulaziz Al Saud.
UAE infrastructure to touch Dh80bn
The quarterly UAE Infrastructure Report by Business Monitor International (BMI) reckoned that infrastructure growth in the UAE this year will be fuelled by Abu Dhabi, and to a lesser extent by transport infrastructure projects in Dubai, such as the Green Line Metro project, the Al Maktoum International Airport and the expansion of Dubai Airport.
