
Tabuk will host Saudi Arabia’s fifth economic city as part of a government plan to promote development all over the country.
The custodian of the Two Holy Mosques, King Abdullah has already launched four economic cities – in Rabigh, Hail, Madinah and Jizan – which are to attract foreign and domestic investment worth more than SR300 billion ($79.99 billion) and create more than a million jobs.
Amr Al Dabbagh, governor of Saudi Arabian General Investment Authority (Sagia), had earlier disclosed plans to establish two more mega economic cities in Tabuk and the Eastern Province.
Dabbagh said the new economic cities would contribute $150 billion to the gross domestic product (GDP) by the year 2020.
The cities will also provide job opportunities to 1.3 million people, a living environment for 4.5 million people and increase the kingdom’s per capita GDP from $13,000 to $33,500.