A new luxury tourism destination named ‘Riviera of the Middle East’ is going to build by Saudi Arabia on the northwestern coast. The announcement about the project made by Saudi Arabia’s Public Investment Fund (PIF) on Wednesday which is the latest in a series of mega projects from the country.
The project remarked as the natural extension of the Mediterranean Sea and Amaala would be the Riviera of the Middle East. The information ministry released the statement regarding the country’s top sovereign wealth fund about the new project.
According to the Public Investment Fund (PIF), the establishment included in the project were hotels, private villas, an arts academy and a yacht club. Also, according to the statement, the initial funding will be provided by PIF and did not mention any time frame or the size of the investment. The country also planning several mega projects is yet to announce.