“Al-Jazeera” – Riyadh:
The “Forus” Forum, held last week at the Exhibition and Convention Center in Riyadh Interface, witnessed the signing of a contract for the development and investment of the Water Tower (Al-Mu’allim) in the city of Al-Khobar. With one of the leading national companies in the field of development and operation of tourism and entertainment destinations, for a period of 25 years, with a total value of more than 400 million riyals. Wherein a joint working group between the Eastern Region Development Authority, the Ministry of Environment, Water and Agriculture, the municipality of the region, and the National Water Company developed and enabled this investment opportunity by qualifying applicants, preparing offer brochures, technical and did. commercial requirements, and finally the evaluation of proposals, in a way that meets leadership directives and the aspirations of Al-Khobar’s residents and visitors and achieves the objectives of the participating entities.
The contract covers the development and activation of the tower for tourism and entertainment, including the land surrounding the tower and internal facilities, serving visitors to the Al-Khobar Corniche, and ensuring the preservation of its aesthetic shape Is. The beach, and its protection from visual and environmental pollution. It includes panoramic restaurants, viewing decks, restaurants, outdoor cafes and entertainment activities, as well as green and other spaces for holding exhibitions, events and celebrations inside and outside the tower.
It is noteworthy that this investment contract constitutes an ideal model for the integration of government agencies in a joint offering and maximizes benefits from the property and enhances competitiveness by attracting investments that optimize the investment climate in accordance with international best practices. increases from practices, as the authority plays a reference role in economic development through its roles in coordinating, empowering and directing development with comprehensive strategic plans, in addition to encouraging the private sector to participate in the development process.