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JEDDAH, Saudi Arabia—Jeddah Economic Co., co-founded by Kingdom Holding Co., signed a deal on Sunday with Saudi Arabia’s Alinma Investment to initiate a SAR8.4-billion (approximately US$2.23 billion) fund. Initially, the fund will be used to develop the 370-acre first phase of the Jeddah Economic City project and finish construction work on Jeddah Tower, which is planned as the world’s tallest building.


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