25-04-2017 21:11 via uk.finance.yahoo.com

Riyadh's new financial hub struggles with ownership uncertainty

By Katie Paul and Andrew TorchiaRIYADH (Reuters) - A glitzy $10 billion financial district in Riyadh hopes to open its first phase for business this year but is struggling with red tape and uncertainty about its ownership, showing the challenges facing Saudi Arabia's economic reforms.The plan to build the King Abdullah Financial District (KAFD) began in 2006, but the project has been plagued by construction delays, cost overruns and doubts about finding enough tenants.The government said in 2016
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