Municipal and Rural Affairs Minister Prince Mansour bin Miteb, SCTA President Prince Sultan bin Salman and Madinah Gov. Prince Faisal bin Salman at the opening of the investment forum in Yanbu on Wednesday. (SPA)

Twenty-seven major investment projects in the industrial city of Yanbu were unveiled during an investment forum opened by Municipal and Rural Affairs Minister Prince Mansour bin Miteb on Wednesday.

Projects include a tourism island, four hotels, an international specialist hospital, a tourist resort east of Yanbu Port, a health resort, an automobile market and a housing city to accommodate 150,000 workers.

Prince Sultan bin Salman, president of the Saudi Commission for Tourism and Antiquities, and Madinah Gov. Prince Faisal bin Salman attended the forum, organized by Yanbu Municipality in cooperation with the city’s chamber of commerce and industry.

Most of the projects unveiled during the event were in tourism and marine sectors. Madinah Mayor Khaled bin Abdul Qader Taher said the new projects were aimed at boosting the development of the region, enhancing the progress and prosperity of citizens and residents.

He said the municipality aims to achieve good returns from potential investment projects in Yanbu and other parts of the region.

“We would like to implement the new projects in cooperation with SCTA, the Madinah governorate and the Yanbu Chamber of Commerce and Industry,” he said.

Yanbu Municipal chairman Hatim Taha said the new projects were announced after conducting necessary feasibility studies, adding that it would contribute to developing the necessary infrastructure for future growth.

“The investment roadmap for Yanbu covers seven million square meters,” Taha said, adding that it offers investment opportunities in various sectors that would organize the city’s progress and markets.

“There will be an integrated housing city that can accommodate more than 100,000 workers,” Taha said, adding that it would meet the housing requirements of various companies and industries in the city. About one million square meters have been allocated for this project.

Tourist resorts, hotels and furnished apartments will be given two million square meters to accommodate about 30,000 tourists and guests, Taha explained.

“There are good prospects to establish a huge fish market on an area of 70,000 square meters,” he pointed out.

A number of small-scale projects including fast-food shops, restaurants and wedding halls can be established to meet the needs of visitors of Yanbu Corniche spread on an area of 30 kilometers, Taha said.

 
[wpResize]