Saudi PIF launches firm to develop tourism, residential area on Gulf coast
DUBAI: Saudi Arabia’s Public Investment Fund (PIF) said on Monday it has launched a real estate company to develop tourism on the Al-Khafji coastline on the Gulf, as the sovereign wealth fund pours billions of dollars into infrastructure projects. Saudi Arabia is investing in infrastructure as part of its plans to transform the economy and reduce the kingdom’s reliance on oil revenue. The new…
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