Fawaz Abdulaziz Al Hokair Company, a leading Saudi-based group with a focus on retail and real estate business sectors, has won a major contract to develop a commercial and entertainment district adjacent to King Abdulaziz International Airport in Jeddah, according to a report.

The development, King Abdulaziz International Airport City, will boast two hotels and commercial and administrative centres, said a Saudi Press Agency (SPA) report.

The land for the project has already been handed over to the developer, the report added.
 
Saudi Arabia's General Authority for Civil Aviation (GACA) had earlier unveiled plans to privatise management and operations at eight of the kingdom's airports as part of government efforts to diversify its income amid the oil slump.