Al-Oqair to put Al-Ahsa into global tourism map

The Cabinet’s decision to allocate SR 1.4 billion for the development of Al-Oqair will boost Al-Ahsa region’s bid to find a place in the global tourism map, according to economic experts and prominent figures in the region. They said this would mark a new era in tourism investments in the region.
Economic studies showed that Al-Oqair beach would be ready to receive a large number of tourists by the beginning of 2016 after completion of the infrastructure and development projects. They expected that investments of the newly established Al-Oqair Development Company would reach SR 17 billion by that time. Total public investments in the seafront tourism project are expected to exceed SR 34 billion.
Prince Sultan bin Salman, chairman of the Saudi Commission for Tourism and Antiquities (SCTA), said that the Ministry of Municipal and Rural Affairs would contribute in kind to develop an area of 100 million square meters in Al-Oqair. Some public funds would also contribute to the capital of the company. It is expected that about 30 percent of the company’s shares would be sold to the citizens in an initial public offering.
The Council of Ministers on Monday allocated SR 1.4 billion for the development of Al-Oqair region for tourism purposes. Of this amount, SR 1 billion will be appropriated for the delivery of electricity and SR 400 million for the provision of water and sanitation. Prince Sultan said procedures for the formation of the new company would be completed within a few weeks.
Hailing the Cabinet’s decision, Saleh Al-Afaleq, chairman of Al-Ahsa Chamber of Commerce and Industry, said that the decision would contribute in speeding up of the project implementation at the earliest possible. He said that Al-Oqair project would be a new turning point in boosting tourism in Al-Ahsa region. Al-Ahsa Mayor Fahd Al-Jubair said that this would lead to a huge flow of private investments into the region’s vital tourism sector in addition to creating more job opportunities for the Saudi youths.