Eastern Province Municipality confirmed more than 6,000 contracts in the field of investments and revenue development

According to the Saudi Press Agency, the Eastern Province Municipality has validated approximately 6,000 agreements pertaining to income development and investments in the province's cities and governorates. As per SPA, this initiative is expected to foster economic growth and development in the region and generate employment possibilities up to tens of thousands. 

The contracts were inked in collaboration with the Eastern Province Development Authority, according to the municipality. Additionally, it said that in an effort to improve the province's standard of living, Eastern Province Governor Prince Saud bin Nayef initiated 18 investment and development projects at the start of this year, totaling SR14 billion ($3.733 billion).

This involves launching a wide and varied range of projects, contracts, agreements, investment opportunities, and developments in various cities and governorates of the region in order to improve services and city economies. According to SPA, this is done by making a digital and qualitative leap in the number of projects and quality investment services.

The majority of projects, contracts, opportunities, and investment agreements, according to the municipality, have been awarded to Dammam City. These include the opportunity to invest in naming and sponsorship rights for the Dammam Corniche, infrastructure development projects, industrial and service plans, landfills, and recycling factories in partnership with the Saudi Investment Recycling Company affiliated with the PIF. They also include investments in King Abdullah Cultural Hall, the development of the Dammam Corniche, the Al Marjan Island marine activities project, and collaboration with Saudi Entertainment Ventures (Seven) of the Public Investment Fund. 

In order to connect the cities and governorates of the Eastern Province, there are also initiatives pertaining to resorts, transportation, sea taxis, ports, and marinas. The entertainment services, tourism, marine activities, infrastructure, environmental safety, and industry are all anticipated to significantly improve as a result of these developments, ultimately raising people's quality of life.