It comes after the municipality took part in the Municipal Investment Forum, where large investment projects were reviewed.

An investment contract was signed with a national company to build a tourism resort and an agreement was signed with the Tourism Development Fund to build another special resort.

Some projects that were proposed are a car circuit and a health resort in Half Moon Bay, and a number of parks and recreational areas, women-only beaches, camping and caravan areas, horse-riding trails, restaurants and cafes.

The projects will promote entertainment and tourism services, sports and marine activities and infrastructure, supporting the economic activity in the region.

The municipality said that the investments come as part of its efforts to develop the investment system and involve the private sector, in order to achieve Saudi Vision 2030’s target of developing services in cities.

The Eastern Province offers a wide range of investment projects and opportunities with an investment value exceeding SR6 billion ($1.6 billion). It will mark a paradigm shift in several fields, such as tourism, entertainment, health activities and sports, improving quality of life.

The municipality called on all interested investors and entrepreneurs to contact the Investment Center of Excellence by logging on to the municipal investment’s web portal, “Foras,” for details.