Saudi Arabia’s Eastern Region Municipality has reached a significant milestone, meeting 100% of the Ministry of Municipalities and Housing’s performance targets for investment attraction. The region secured over SR 30 billion ($8 billion) from both local and international sources.
According to Faisal Al Zahrani, a spokesperson for the municipality, more than 95% of available assets have been invested. The region now manages over 6,000 investment contracts, generating annual revenues exceeding SR 2 billion ($533 million).
High-Impact Sectors Driving Growth
The investment projects span several key sectors, with the largest portion allocated to tourism and entertainment, exceeding SR 14 billion ($3.73 billion). Other significant areas include environment and sustainability initiatives, which have surpassed SR 8 billion ($2.13 billion), and urban and waterfront projects valued at SR 4 billion ($1.07 billion).
The municipality has also seen foreign investments of more than SR 1.7 billion ($453 million) and projects in health, education, sports, housing, and logistics totaling more than SR 5 billion ($1.33 billion).
Impact on Employment and Quality of Life
Al Zahrani emphasized that these projects, in collaboration with various authorities, are not only designed to support financial sustainability but are also expected to create thousands of jobs and improve the quality of life for residents in the Eastern Region.
