(15-06-2006). New Saudi economic city will attract $7.9 bn. Retrieved On 20/06/2006 from http://www.menareport.com/en/business/199478/&searchWords=hail



New Saudi Economic City Will Attract $7.9 BD

King Abdullah Alsaud had opened the biggest economic city in the Middle East on June 15, 2006. This city is considered to be one of the largest economic cities in the Middle East for logistic and supply chain according to the Gulf Daily. The project was launched in Hail City, located 600km north of Riyadh The capital of Saudi Arabia. This city is expected to create thousands of jobs for Saudi youth. The project is devolved by the investment foundation supervised by the Saudi Arabian General Investment Authority (SAGIA) and leaded by Rakizah Holding Company.


I believe that this new economic city’s are good for the economy because in Saudi Arabia the rates of population are increasing and there are now jobs specially like a small city like Hail, and because of that people are moving to the capital which will make it more crowdie. Hail and qassim and other city’s where having some investment problem because their where not enough jobs, so people started moving from it and that lead to loss in some business their who where depending in the local people to buy from them. This city’s will refresh the city’s real estate and lands apartments, which will increase the price. My uncle lives in an industrial city which is similar to the economic city and he is doing good and the thing that it is more cheaper than the big city’s and more safer and has it own health club and other facilities so I think it’s fun and not that bad. This city’s give the Saudi economic good money by foreign investment. This will make Saudi Arabia depend on other sources not just oil, which will give the economic some balance. This city’s will help doing other business like entertainment, banking and other needs. I think that this city’s will gust bring good things to the kingdom.