Saudi developer Emaar Economic City has received a 5 billion riyal loan ($1.33 billion) from the kingdom's finance ministry to speed up construction of a project, it said on Wednesday.
Two sources familiar with the deal told Reuters last year that the Saudi developer would receive the loan.
Emaar Economic City, affiliated to Dubai developer Emaar Properties , is spearheading the development of King Abdullah Economic City, a project aimed at diversifying the kingdom's oil-based economy.
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