Red Sea Housing Services Company announced that it has decided to terminate its housing facility project within King Abdullah Economic City (KAEC) in Rabhigh on concerns that the revised projected occupancy and rental rates at the camp would no longer make the project feasible. The company had invested SAR11.93mn to date, out of a total estimated cost of SAR50mn. The company also announced that it has reached a preliminary agreement with KAEC, which is planned to be signed over the coming weeks, to hand over the leased land plot in its current condition, without any additional financial liabilities on either party. (Tadawul)