Saudi group plans €300m investment in Waterford city centre

“It’s hugely significant, it’s a game changer for Waterford city and has the potential to transform our city in terms of jobs growth."

An investment group, which describes itself as one of leading groups of companies in the Kingdom of Saudi Arabia focusing on retail and real estate business sectors, is reportedly set to make a major investment in Waterford city centre.

The deal between the Fawaz Alhokair Group and Waterford city council was agreed after months of negotiations, and councillors were yesterday briefed on the investment - believed to be in the region of €300m.