Bloomberg News

Saudis Plan $193 Billion Revamp for Holy City, Eqtisadiah Says

August 16, 2012

Saudi Arabia plans to invest 723 billion riyals ($193 billion) over the next 28 years to revamp the Holy City of Mecca, Eqtisadiah reported, citing government sources it didn’t name.

About 126 billion riyals will be spent on transportation projects, 255 billion riyals on social spending and health, and 231 billion riyals on housing projects, the newspaper said.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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