Latest news with #FaisalAlZahrani
Zawya
8 hours ago
- Business
- Zawya
Saudi's Eastern Region unveils plans for 'Global City Dammam'
Saudi Arabia's Eastern Region Municipality has unveiled plans for the establishment of "Global City Dammam", a major and distinctive investment project in cooperation with a Thai investor, said a report. This project marks a significant step in the landscape of entertainment, cultural, and tourism projects in the region, said a Saudi Press Agency report. Eastern Region Municipality spokesperson Faisal Al-Zahrani said the project features a modern and innovative design that integrates entertainment, tourism, culture, and commerce. The city will include dedicated pavilions for 16 countries, each showcasing its unique culture and traditions. Every pavilion will include a restaurant offering cuisine representative of that country, providing visitors with a rich cultural and culinary experience. Al-Zahrani said that the city will be centered around an artificial lake, enhancing its aesthetic and tourism appeal. It will include a floating market built on the lake and an open-air theatre with a seating capacity of 7,000, expandable to 10,000 to accommodate major events. The project will also feature a fully equipped entertainment zone covering over 17,000 sq m. In addition, it will include a large open-air skating plaza, several international restaurants, and family-friendly activities, making it a major entertainment destination in the region. The Global City will span more than 600,000 sq m, divided between land and water areas. The investment in the first phase will be SAR200 million, and the total value of the project is expected to reach SAR650 million upon completion of all phases, according to studies conducted by the municipality in collaboration with the investor. Al-Zahrani stressed that the project is poised to become a major tourism destination for visitors from within the Kingdom and abroad, leveraging Dammam's strategic location near Gulf countries. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Argaam
4 days ago
- Business
- Argaam
Eastern Province unveils Global Village Project with up to SAR 650M investments
The Eastern Province Municipality announced the 'Global Village Project", a major investment initiative in collaboration with a Thai investor, Saudi Press Agency (SPA) reported. Spokesman Faisal Al-Zahrani said the project combines entertainment, tourism, culture, and commerce in a modern design, featuring 16 country-themed pavilions, each with a restaurant showcasing its national cuisine. The development will be built around a man-made lake, featuring a floating market and an open-air amphitheater with 7,000 seats, expandable to 10,000 for large events. Other attractions include a 17,000-square-meter (sqm) amusement park for all age groups, a large outdoor skating rink, global restaurants, and family-oriented activities, positioning the site as a key entertainment destination in the region. The project covers over 600,000 sqm of land and water, with phase one valued at SAR 200 million and total investment set to reach SAR 650 million, according to studies by the municipality and its investor partner.
Argaam
28-05-2025
- Automotive
- Argaam
Aqaseem Factory to transfer SAR 3.4M statutory reserve to retained earnings
Aqaseem Factory for Chemicals and Plastics Co. 's shareholders approved transferring the company's statutory reserve of SAR 3.38 million to retained earnings during an extraordinary general meeting (EGM) on May 27. The statutory reserve is based on the annual financial statements for the year ended Dec. 31, 2024, Aqaseem Factory said in a statement to Tadawul. Shareholders also approved contracts signed with Leader Express for Automotive Services, in which board members Mohammed Al Dossary and Faisal Al Zahrani hold indirect interests. The contracts, valued at SAR 5.74 million for 2024, do not include any preferential terms. All other items on the meeting's agenda were also approved, the statement added.
