Saudi Arabia to spend US $704mn to develop Darin and Tarout Island
Investment aims to develop and improve the heritage, environment, and touristic aspects of the island
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister of Saudi Arabia, and Chairman of the Council of Economic and Development Affairs, has announced the accrediting of a development approach for Darin and Tarout Island.
The island is located off the coast of the Eastern Province of Saudi Arabia, in the Arabian Gulf, and is home to 120,000 people; the development approach will include the setting up of a new development cooperation for the island. Following a decision by the Council of Ministers, Prince Mohammed has allocated around US $704mn to be invested across the island, with the aim of improving the quality of life and developing its GDP.
According to a report by Saudi Press Agency, the investment aims to take advantage of the island’s heritage, environment and tourist aspects in a way that will contribute to economic diversity. Dating back more than 5,000 years, the island enjoys significant historical significance and boasts over 11 heritage sites. It is one of the oldest ports in the region and was previously known as a seaport and active market, where there was a warehouse for musk, perfume, textiles, and spices.
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The report stated that the Darin and Tarout Development Corporation’s development plan for the 32sqkm island includes identifying the island’s comparative and competitive advantages around three main pillars: preserving the cultural and historical heritage of the island; the revival of natural and environmental sites; and improving quality of life for residents and enhancing its tourism economy.
To achieve the goals of the island’s development plan, more than 19 qualitative initiatives have been developed, the report added.
On the cultural side, Darin castle and airport will be developed as heritage tourist destinations and will hold several cultural and heritage festivals. Several pedestrian trails that pass through the island’s heritage areas will be established, stated the report.
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On the environmental side, the largest mangrove forest will be created on the shores of the Arabian Gulf, in addition to building several environmental hotels and motels in natural areas, as well as improving the quality of life on the island through the construction of roads, infrastructure and public parks, including many stadiums and modern sports facilities, it added.
The development approach is expected to create significant economic and social impact on the island by contributing to GDP with an average of up to US $79mn on an annual basis, increasing the number of tourists to 1.36m by 2030. Thousands of career opportunities will be created as a result of these investments, while allocating up to 48% of the island’s area to parks, waterfronts, roads and facilities, it concluded.
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