27-Sep-18, Projects Mena
Saudi Arabia's Public Investment Fund (PIF) announced plans to turn a section of its northwestern coast into a magnet for international tourists, part of a broader push to diversify the economy away from oil.
%20Project%20Mena.jpg "Saudi announces project to build global tourism destination (c) Project Mena")
Image: Project Mena
"The new destination is a natural extension of the Mediterranean Sea, and dubbed the Riviera of the Middle East," said the Saudi sovereign wealth fund, detailing the tourism project, which is to be called Amaala.
Amaala, alongside the previously announced NEOM, a 26,500 square kilometre business zone under development in the northwest of the kingdom, is part of the giga-projects investment portfolio of PIF.