Prince Saud bin Abdullah, Chairman of the Royal Commission for Jubail and Yanbu, recently presided over a signing ceremony in Riyadh for 24 contracts with 16 investors, under which the Commission will allocate land in the industrial cities of Jubail and Ras Al-Khair to the investors for the establishment of commercial investment projects, including the construction of hotels, shopping centers, residential buildings, medical clinics, gas stations, and recreational facilities, with a total value of 1.26 billion riyals. According to a statement from the Authority, the contracts were signed on behalf of the Royal Commission by Dr. Musleh Al-Otaibi, CEO of the Royal Commission in Jubail, with several national companies.Prince Saud stated that all projects scheduled for implementation are in line with the Kingdom’s Vision 2030 and the National Transformation Program 2020, which aim to provide the private sector with the opportunity to contribute to driving development and strengthening vital sectors such as services and entertainment, emphasizing that logistical support will be provided for the implementation of mega-projects, the ground-breaking ceremonies for which will be held and the projects launched soon, God willing, in the industrial cities.

Saud bin Abdullah explained that the projects are part of the «Second Trillion-Riyal Journey,» which the Royal Commission seeks to localize after having successfully attracted investments exceeding one trillion riyals throughout its history.He emphasized that the Royal Commission is fully committed to conducting its business with the utmost transparency, including putting these investment projects out to competitive bidding, publicizing them, and making them available to everyone, which has enabled all interested parties to participate in the bidding process.