Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis.
The Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi, said the launch of these investment sites is part of the objective of 40 investment projects with an area of 3 million square meters.
The objective itself, he said, are an extension of translating the objectives of the Kingdom’s Vision 2030, which is based on developing the investment system, developing revenues, and enhancing the elements of quality of life and financial sustainability.
The duration of investment projects is 25 years, subject to extension.
Al-Aradi said the investment opportunities are among more than 207 investment opportunities offered by Amanat (secretariat) of the province.
Some of these opportunities extend to 50 years with the aim of motivating investors and attracting investments. Bank guarantee was reduced to 25 percent and the exemption period reached up to 10 percent of the total contract period, in support of investors and pioneers.