Pictures: Saudi's big problem projects

Jul 3, 2012: CW looks at some of the top cancelled and stalled Saudi projects
Pictures: Saudi's big problem projects
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Project: Prince Abdulaziz Bin Mosaed Economic City; Value: $8bn (SAR 30bn); Developer: Al-Mal Kuwaiti Company; Announced: 2006; Status: On hold; The city was to cover 156 million square metres and have 12 distinct components for trade and services in sectors such as agriculture and food processing, mining, education, housing, and entertainment. In late 2008, the local developer Rakisa Holdings was replaced by Kuwait's Al-Mal Investment Company which signed an agreement with Sagia to develop the city. Little activity has been seen since.


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