Dr. Bassam Bodi, Vice Chairman of the Real Estate Committee at the Eastern Chamber, revealed the migration of real estate capital to invest in tourism in the Eastern Province due to the high demand for holding more than 80% of corporate and government events in resorts and marine areas in the Eastern Province due to its large areas, multiple activities and stunning views that contribute to the success of these events.
Dr. Bodi said that the last three years have witnessed a great demand for resorts and hotels located on the sea coasts.
Dr. Bodi said that the last three years have witnessed a great demand for resorts and hotels located on the sea coasts by major companies and some government agencies in order to diversify and change and search for spacious open locations. Bodi stressed that many investors from real estate in the Kingdom and the Gulf countries went to invest in the construction of hotels and sea chalets in the Eastern Province due to the uniqueness of its geographical location, proximity to the Gulf countries and the large number of tourists throughout the year, which exceeds one million tourists annually, making it second after Mecca in the number of tourists, indicating that there are more than 1200 chalets in the Eastern Province, but demand is more than supply, especially during the summer period and annual vacations. .
Bodi unveiled the Dana Bay project, which is considered the largest tourism project with an area of more than 2.He pointed to the permanent coordination with the tourism committee to introduce the tourism projects in the region to Gulf and foreign investors, adding that the approval of the Council of Ministers on the lending program for hotel and tourism projects represents an important start in the development of the national tourism sector, and enhance the capabilities of investors to upgrade the level of tourism services, and will contribute to the return of migrant capital as more than 60 percent of tourism investments in the Gulf countries belong to Saudi investors.
