Dr. Paul J McKeown speaking at the event as part of the Alkhaldi-Sovren Group.

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His Royal Highness Prince Saud bin Nayef bin Abdulaziz has officially launched more than SAR 2 billion worth of development and investment projects in Saudi Arabia’s Eastern Province, marking a major milestone for regional urban development and infrastructure growth.

The inauguration ceremony, held at the Emirate’s Diwan, was attended by His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing, highlighting the strong alignment between regional execution and the objectives of Saudi Vision 2030.

The newly announced projects reinforce the Kingdom’s commitment to sustainable urban development, economic diversification, and the creation of future-ready cities across the Eastern Province.

Key projects announced include:

• Khobar Waterfront Development

• Cultural Centre in Al Khobar

• Bay Front Architectural Beach Project

• Urban development initiatives across Dammam and Al Khobar

• The Global City Initiative

These strategic developments are expected to strengthen the Eastern Province’s position as a leading investment destination in Saudi Arabia, while enhancing infrastructure, tourism, livability, and quality of life.

At HanmiGlobal MENA, we are proud to contribute to this transformation by supporting developers, investors, and public sector stakeholders across the region. Our focus remains on delivering structured, bankable, and execution-ready projects that align with long-term national objectives.

Our ongoing support includes:

• Structuring bankable project delivery models

• Implementing integrated PMO and governance frameworks

• Aligning stakeholders from concept to execution

• Accelerating mobilisation and programme certainty for complex developments

Speaking at the event as part of the Alkhaldi-Sovren Group, Dr. Paul J McKeown, CEO of HanmiGlobal MENA , commented:

“The Eastern Province is entering a new phase of investment maturity, where clarity of governance, delivery structure, and stakeholder alignment are enabling projects to scale with confidence. Our focus is to ensure these opportunities are realised through disciplined execution and strong delivery leadership.”

The signing of additional investment agreements covering public parks, city gateways, and urban enhancement projects further demonstrates Saudi Arabia’s commitment to sustainability, urban transformation, and long-term economic growth.

This announcement signals continued momentum in shaping world-class cities and infrastructure across the Kingdom of Saudi Arabia.