In the presence of His Excellency the Chairman of the Royal Commission for Jubail and Yanbu, Eng. Khalid bin Mohammed Al-Salem, and the Chairman of the Board of Directors of Al-Othaim Investment Company, Mr. Abdullah bin Saleh Al-Othaim, the Royal Commission for Jubail and Yanbu and Al-Othaim Investment Company signed an agreement to allocate a site to establish and operate an integrated commercial project in the Yanbu Industrial Waterfront, with a value of (400) million riyals.
The agreement was signed today, Tuesday, April 30, 2024, by the CEO of the Royal Commission in Yanbu, Eng. Abdulhadi Al-Jahni, and the CEO of Al-Othaim Investment Company, Mr. Mishaal bin Omairah, to allocate the project site on the waterfront in Yanbu Industrial City with an area of 200 thousand square meters, including an integrated commercial mall, a hotel with international specifications, in addition to huge entertainment spaces, distinctive restaurants and cafes, multiple cinemas, and open green spaces on the facade. The project is also distinguished by its smart design and innovative distribution of functions and services.
Eng. Abdulhadi Al-Jahni, CEO of the Royal Commission in Yanbu, expressed the importance of the role of the private sector in achieving the economic goals and visions of the Kingdom of Saudi Arabia, saying: “This agreement reflects the importance of partnership with the private sector, which plays a pivotal role in the growth and development of the tourism sector in Yanbu, and contributes to creating a vibrant society and establishing a prosperous economy through diversifying investment, which supports the achievement of the Kingdom’s Vision 2030.”
