Egypt's Amer to build $2bn Saudi project

A $2.2bn tourist project is planned by Amer Group, an Egyptian property developer, on Saudi Arabia's Shuaiba coast close to Makkah, Arabic daily Okaz has reported. The project will cover an area of five million square metres and will include 2,000 residential units, 25,000 hotel rooms, four markets, an amusement park, hospitals, and a golf course. The project is expected to be completed in 18 months, Mansour Amer, the group's chairman, told the newspaper.