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Mecca, $2.7bn Economic City
- Saudi Arabia: Monday, August 21 - 2006 at 13:44
Plans are being drawn up for an economic city in Mecca, which could cost around $2.7bn, reported Arab News. The Um Al-Qura Economic City project could generate 15,000 jobs and 30% of the shares of the company allocated to develop the city would be made available in an IPO. Two sites are being considered for the project: one is near the Mecca National Park, while the other is in Shuaiba.
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Jonathan Sheikh-Miller, Deputy EditorMonday, August 21 - 2006 at 13:44 UAE local time (GMT+4)
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