Richard Branson to invest in Saudi Arabia’s tourism project

Saudi Arabia is one of the most conservative countries in the world, only last week passing a decree allowing women to drive. But since the shock appointment in June of Prince Mohammed bin Salman as successor to his father’s throne, the oil-rich state has launched a media offensive aimed at promoting its image.

On 1 August, Saudi Arabia announced plans to turn 34,000 sq km (13,127 sq miles) of its Red Sea coastline into luxury resorts.The Saudi Public Investment Fund, which is headed by Prince Mohammed, will provide the initial investment into the Red Sea project, with construction slated to start in 2019.

Virgin Group founder Sir Richard Branson will also invest in the Red Sea project that aims to turn 50 Saudi Arabian islands into luxury tourism destinations, the Saudi government announced on Sunday.

Source Credit: The Guardian
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