KSA-based group to invest in Kerala
Kingdom of Saudi Arabia (KSA)-based Saihati Group (SG) will invest $13.3 million to set up tourism and real estate projects in Kerala, SG Chairman Abdullah Ali Al-Saihati said.
Dr Al-Saihati said Kerala was a safe place for investment in tourism, information technology and related industries and real estate considering the influx of international tourists, the presence of highly skilled personnel and large middle and upper-class population.
He said events such as the India Tourism Mart 2006 and Kerala Fest 2006 would help strengthen bilateral cultural and economic ties.
Dr. Al-Saihati, recently set up two companies in Kerala to develop tourism-related and real estate projects in Kochi, urged the Saudis to visit the southern State, which had picturesque landscape, serene backwaters and lakes, swirling rivers and rich cultural heritage.
Dr. Al-Saihati, who was participating in the tourism mart, told Arab News about the investment in India.
Organiser of the tourism mart, Orion Sargam President Rafeek Younus, said the event on November 2 and 3 in the Alkhobar region is intended to promote Kerala as an international tourist destination, attract foreign investment and promote Indo-Saudi cultural relations.
Mr. Younus is hopeful that the mart would help attract $216.5 million worth of investment in Kerala tourism.
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