Public Investment Fund Starts Khafgi Coastal Project

The Public Investment Fund has announced the launch of "Khalij Bay for Real Estate Development," aimed at developing an integrated tourist and residential destination on the Al Khafji Coast. Covering an area of nearly 20 square kilometers with a 10-kilometer waterfront, the project is expected to provide over 16,000 residential units and 1,400 hotel units upon completion in 2030. The initiative seeks to promote sustainable development, enhance the quality of life, and create new job opportunities by establishing eight neighborhoods that will include commercial, tourism, and educational facilities. The project will contribute to diversifying the local economy, achieving sustainable returns, and attracting both local and regional investors. Additionally, it will support infrastructure development and urban growth in the region.

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