JEDDAH, 30 October 2004 — Efforts are under way to establish Saudi Arabia’s first fun city for women and children in the Eastern Province.
“The majority of investors in the project will be businesswomen,” said Nasser Al-Qahtani, director of investment development center at the Eastern Province Chamber of Commerce and Industry.
“The idea was presented by investors. We will conduct a feasibility study on it and take steps to implement the project with the support of businessmen and women,” Al-Eqtisadiah business daily quoted Qahtani as saying.
He also disclosed plans to establish large-scale companies to meet the needs of strategic sectors in the region such as oil, petrochemicals, desalination and electricity.
The SR600 million fun city will have modern recreational facilities and will comprise chalets, restaurants, swimming pools, sports clubs, various fun games and other tourist facilities, he said.
“The center hopes that a large number of businesswomen will invest in the project,” Qahtani said and estimated bank deposits of Saudi women at SR80 billion.
“Talks are under way with investors in the tourism sector to establish a constituent committee for the project,” he said, adding that a joint stock company would be established to carry out the project.
The chamber is also planning to establish a partnership agreement with an American building company to construct low-cost houses worth SR45,000. However, he pointed out that the civil defense has not yet given the go ahead for the project.
