Saudi Arabia’s Eastern Region Municipality has achieved a major milestone by meeting 100 per cent of the Ministry of Municipalities and Housing’s performance targets for attracting investment, securing more than SR30bn ($8bn) from both local and international sources.
According to spokesperson Faisal Al Zahrani, the municipality has invested more than 95 per cent of its available assets, manages more than 6,000 investment contracts, and generates annual revenues exceeding SR2bn ($533m).
The investment projects are distributed across several high-impact sectors:
- Foreign investments: More than SR1.7bn ($453m)
- Tourism and entertainment projects: More than SR14bn ($3.73bn)
- Environment and sustainability initiatives: Exceeding SR8bn ($2.13bn)
- Urban and waterfront projects: Valued at SR4bn ($1.07bn)
- Health, education, sports, housing, and logistics projects: Totalling more than SR5bn ($1.33bn)
Saudi Eastern Region investments
Al Zahrani said the projects, implemented in collaboration with various authorities, are designed to support financial sustainability, create thousands of jobs, and enhance the overall quality of life for residents in the Eastern Region.
