RIYADH (Reuters) - Virgin Group’s Richard Branson said on Thursday he has accepted a board position on large development projects in Saudi Arabia.
“I will invest. I’ve been asked to be ... on the board of one or two of your city projects – your Red Sea Project – and am delighted to accept,” he told an investment conference in the capital Riyadh.
Saudi Arabia announced on Tuesday a $500 billion cross-border city development project on the Red Sea. The kingdom also plans tourism developments on a number of Red Seea islands.
Reporting by Katie Paul, writing by Alexander Cornwell