Work on the Red Sea Project is progressing steadily, and the first guests are expected to be welcomed by the end of 2022.
Upon completion in 2030, the Red Sea Project is expected to house 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites.
The report also noted that the PIF was initially reluctant to support Kushner’s fund, citing his lack of experience.
Musk, whose net worth is pegged at $274 billion by Forbes, responded only with a face-with-hand-over-mouth emoticon on Twitter.
Jeddah came in second with more than 19 percent, followed by Dammam with 6 percent, then Makkah Al-Mukarramah by more than 4 percent, Al-Madinah Al-Munawwara and Al-Khobar closely followed with more than 3 percent.
RIYADH: The city of Riyadh topped the rental index report for Saudi Arabia for the second month in a row, taking over 31 percent of the total rental deals registered, according to Ejar monthly report.