Saudi Arabia Is Said to Seek Funding for Mega Tourism Projects - Bloomberg:
Saudi Arabia has approached banks to raise financing for two mega tourism projects as the kingdom pushes ahead with ambitious plans for life after oil, according to people familiar with the matter.
Red Sea Development Co. and Qiddiya Investment Co., which are managing the developments, have sent out so-called request for proposals to banks to see how much they could lend, the people said, asking not to be identified because the matter is private. The companies haven’t said how much they plan to borrow and are gauging how much they could raise, the people said.
Representatives for Red Sea Development and Qiddiya Investment didn’t immediately respond to requests for comment.
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