DAMMAM Municipality Signs Over 6,000 Contracts to Boost Investments and Job Opportunities
In a groundbreaking move, the Eastern Province Municipality has officially inked more than 6,000 contracts aimed at driving investments and revenue growth across the cities and governorates within the region. This move, as reported by the Saudi Press Agency, is set to pave the way for the creation of tens of thousands of job opportunities while propelling economic growth and development in the area.
Development Projects Launched by Governor Prince Saud bin Nayef
Working in collaboration with the Eastern Province Development Authority, the municipality revealed that Prince Saud bin Nayef, the governor of the Eastern Province, kickstarted a total of 18 development and investment projects earlier this year. These projects come with a hefty price tag of SR14 billion ($3.733 billion) and are poised to significantly enhance the quality of life within the province.
Focus on City Economies and Quality Investment Services
Notably, the initiatives include a strong emphasis on bolstering services and city economies by ushering in a digital and qualitative leap through a myriad of projects, contracts, agreements, investment opportunities, and developments in various cities and governorates of the region, according to SPA.
Thriving Projects in Dammam City
Dammam city emerged as a key player in securing a lion’s share of the projects, contracts, opportunities, and investment agreements. Prominent projects in the pipeline include investments in the King Abdullah Cultural Hall, Dammam Corniche development, Al Marjan Island marine activities project, and collaborations with Saudi Entertainment Ventures (Seven) of the Public Investment Fund, among others. These ventures span across infrastructure development, industrial and service plans, as well as landfills and recycling factories in partnership with the Saudi Investment Recycling Company affiliated with the PIF.
Revolutionizing Entertainment Services and Tourism
Furthermore, the region is set to witness a surge in projects encompassing resorts, transport, sea taxis, ports, and marinas, all geared towards seamlessly connecting cities and governorates within the Eastern Province. These ventures are projected to bring about a substantial enhancement in entertainment services, tourism offerings, marine activities, infrastructure, environmental safety, and industry, ultimately elevating the overall quality of life for residents.