US EditionSaudi Arabia Downscales Flagship Red Sea Giga-Project
3 Articles
3 Articles
Saudi Arabia is greatly reducing the size of its luxury tourist projects in the Red Sea, pointed out several sources to AFP, a revision to the world's largest oil exporter, which hoped to diversify its economy by attracting tourists to its coastal areas. These high standard establishments were one of the wineries of ambitious reforms Vision 2030 by Prince Mohammed bin Salman to attract tourists and investors, but low oil prices and the lack of c…
Saudi Arabia downscales flagship Red Sea giga-project
Saudi Arabia is scaling back plans to build 81 luxury resorts on the Red Sea by 2030, seven sources told AFP, as the kingdom rethinks the multi-billion-dollar mega-projects meant to reshape its oil-reliant economy. Stubbornly low oil prices and patchy demand have forced a rethink of the flamboyant "giga-projects", centrepieces of Crown Prince Mohammed bin Salman's Vision 2030 programme to diversify Saudi Arabia's economy. Red Sea Global (RSG) de…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
