Housing Minister approves establishing Najran Municipality Investment Company

Majed Al Hogail Minister of Municipal, Rural Affairs and Housing 

Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majed Al Hogail approved establishing Najran Municipality Investment Co., to be owned by the region’s municipality, the Saudi Press Agency (SPA) reported.

Al Hogail ratified the formation of the company's board of directors, headed by Najran Mayor Saleh Al-Ghamdi. Board members include Abdullah Ashmawi, Saleh Al-Awaji, Ali Al Mansour, Saleh Al-Qurayshah, Hamad Alshuwaier, Mansour Al Qahtani, Shoeil Jarallah Al Ayed, and Bader Al Swailem.

Najran Municipality’s spokesperson Abdullah Al-Fadel said the new closed joint stock public company will be wholly owned by the region’s municipality, acting as its investment arm. The move marks a qualitative addition to the business sector to promote investment activity in the municipal sector in Najran region, he added.

Al-Fadel pointed out that the company will work on three axes, namely the management and development of municipal investment contracts, the management of municipal service contracts, and the establishment of tourism development projects jointly with the private sector.