The pivotal role of tourism in national development is once again highlighted at the opening on Tuesday of the three-day “5th Forum & Exhibition on Tourism and Real Estate Development” held here. The forum, now on its last day, aims at achieving a number of objectives such as role of railways in the tourism development, importance of air and ground transportation in the tourism development, and electricity, sanitation, water and communications services in real estate development. Tahir Bawazir, chief executive officer of the Knowledge Economic City (KEC) in Medina, said on the occasion that the private sector's participation in the forum “is an affirmation” of the vital role the sector in developing the tourism sector and further intensifying the real property development of the people and the Saudi society as whole. He noted that the Knowledge Economic City is one of the grand projects of King Abdullah, Custodian of the Two Holy Mosques, aimed at improving the Kingdom by providing planned communities with smart environments. The forum has also witnessed work sessions, investment negotiations and creative ideas that have won government support and were adopted by the private sector, Bawazir said, noting that the forum has highlighted special projects of infrastructure, tourism and real estate development as well as available investment opportunities in the Kingdom and future opportunities in KEC. As planned, Bawazir said Madina would be the first city in the region, through the Knowledge Economic City, that will transform the Kingdom's economy to knowledge-based one. He added that KEC will draw around SR30 billion in investments and once developed, the city is projected to create more than 20,000 jobs and have a population of about 150,000 people. Moreover, Bawazir said throwing KEC's support to the tourism and real estate forum only shows its unequivocal commitment in the pursuit of development for sustained national growth and society's advancement. As a gold sponsor of the forum, KEC project spearheads development initiatives in the Madina area, he pointed out. Ibrahim Mazyad Al-Khattaf, undersecretary of the governorate in Madina region, opened the forum in the presence of officials from both the government and private sectors, including economists and real estate investors. Some 50 government and private agencies, along with a number of economists and real estate experts and investors in the Kingdom took part in the forum.
