Saudi Arabia to invest $5.2 bln developing first phase of AlUla heritage site: CEO
Published 28 Apr,2021 via Arab News - Economy DUBAI - Saudi Arabia has invested $2 billion in initial seed funding for the development of the AlUla historical development area.
And a further $3.2 billion has been earmarked for spending on priority infrastructure ahead of the completion of phase one of the project in 2023, the chief executive officer overseeing the development told Arab News.
“We are well into executing phase one. This includes the upgrade of the airport, which has been completed. We will start our low-carbon tram development infrastructure as well. And, so far, our visitor experience centers in the heritage and nature site are being upgraded,” said Amr AlMadani, CEO of the Royal Commission for AlUla (RCU), the entity set up by the Saudi Ministry of Finance in July 2017 to manage the development of the site.
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