A 5 billion riyal (Dh4.89bn) loan from the Saudi government is expected to jump-start construction of the King Abdullah Economic City, a 168-square-kilometre development on the Red Sea north of Jeddah.
Emaar, The Economic City (Emaar EC), a publicly listed joint venture between the Dubai developer Emaar Properties and Saudi investors, is building the project, the largest private-sector development in the kingdom.
The plans include a new port, an 800-hectare industrial sector, office towers, resorts and homes for 2 million people.
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