Saudi crown prince unveils ambitious plan of developing Red Sea resort islands
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Crown Prince Mohammed bin Salman has unveiled an ambitious plan to develop a resort area on about 50 islands off Saudi Arabia's Red Sea coast.
The project is part of a strategy to reduce the Saudi economy’s dependence on oil revenues.
The Red Sea Project will be built on 30,000 square kilometers between the cities of Amlaj and al-Jawh, an area bigger than Belguim.
It will be financed by the kingdom’s Public Investment Fund (PIF), according to an official statement.
