I posted Eastern Province Secretariat has put up for investment 11 sites for a number of public parks and recreational areas in the city of Dammam, covering an area of half a million square meters, in order to support the Saudi Green Initiative, improve environmental services, and increase green spaces in the region.

AndEngineer Hamdan Al-Aradi, Deputy Secretary-General for Investments and Revenue Development, explained that the offering of these investment sites is part of the target to launch 40 investment projects covering an area of 3 million square meters, as part of the ongoing effort to implement the objectives of the Kingdom’s Vision 2030, which focuses on developing the investment system, increasing revenue, and enhancing quality of life and financial sustainability. He noted that the investment contracts have a term starting at 25 years, subject to extension.

He added that these investment opportunities are among more than 207 investment opportunities previously offered by the Secretariat, some of which extend up to 50 years, with the aim of incentivizing investors and attracting investment, noting that the bank guarantee has been reduced to 25% and the exemption period extends up to 10% of the total contract term, in order to support investors and entrepreneurs, facilitate their activities, and stimulate economic activity in the region. He called on investors and entrepreneurs interested in investing to contact the Secretariat’s Center of Excellence for Investment or use the digital portal for municipal investment and the “Fursat” app.