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Ersal Project to Become Palestinian Financial Hub, Abbas Says

Palestinian Authority President Mahmoud Abbas said a $400 million Saudi-backed construction project can help transform the West Bank’s sister cities of Ramallah and El-Bireh into a regional financial hub.

“We want this to look like New York and Dubai,” Abbas said today as he attended a ceremony to mark the start of the Ersal Center, a 13-tower joint venture between the authority’s Palestine Investment Fund and the Riyadh-based Land Real Estate Investment and Development Co. “This is a new vision for Palestine.”