$480m fund launched to build hotel resort at King Abdullah Economic City
RIYADH: A $480 million fund to build a luxury resort at King Abdullah Economic City (KAEC) has been launched. Emaar The Economic City (Emaar EC) announced in a Saudi stock market filing on Sunday that a framework cooperation agreement to establish the investment fund had been signed. It said the agreements would be signed with the Saudi Tourism Development Fund, the Turkish investment company FTG Development, Saudi bank Albilad’s investment company, Albilad Capital, and Curacao-based finance company Ekofine Holding BV. The fund will be allocated toward the development and operation of a fiv...
Source: arabnews.com