Emaar Economic City May Receive State Loan for Red Sea Project
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Emaar Economic City, the developer of King Abdullah Economic City in Saudi Arabia, may receive a government loan to help pay for work on the Red Sea coast project.
The government is currently considering the loan, Yahya Hamidaddin, the Saudi Arabian General Investment Authority’s director of Smart Cities Development, said yesterday at a conference in Jeddah. The company asked the authority for assistance to arrange the loan, he said, without providing further details.