The Kingdom has also beefed up precautionary measures at airports to monitor the spread of the virus during the Haj season, a senior official said.
The group, whose core brands are Radisson Blu and Park Inn by Radisson, will open three hotels in Jeddah and one each in Riyadh and Dammam.
The value of shares brought by foreigners through swap agreements rose to SAR3.53 billion in July, from SAR1.66 billion in June.
The fund’s return fell despite a strong rise in the Kingdom’s stock market, in which it is one of the major investors.
The Kingdom reported 10 confirmed new cases of the virus during Ramadan and Eid.
The new $8.5 billion project, known as Rabigh II, is to be built as an expansion of PetroRabigh’s existing petrochemical plant.
Gaza officials say at least 1,499 Palestinians, mostly civilians, have been killed and 7,000 wounded.
The opening of the Saudi market to direct foreign investment is expected to attract a lot of active money.
The Gulf state, Japan’s second biggest oil provider, exported 23 million barrels during the month.
Other Gulf markets will also lure more foreign investment if the Saudi market opens, experts say.
The Kingdom’s Public Investment Fund has assets under management worth about $5.3 billion.
The airline currently operates three weekly flights on the Jeddah-Manchester route.
The move is expected to be in place in the first half of 2015, according to the Kingdom’s financial regulator.
Savola’s packaging unit’s consolidated net profit last year fell to SAR69.5 million from SAR100 million a year earlier.
The settlement covers payments due between 2007 and 2013.
More than 600 people are reported to have been killed in Gaza during the two weeks of fighting between Palestinians and Israelis.
Japan has been lending 10.7 million barrels of crude tank capacity to the two countries.
Savola is a major producer of cooking oil, sugar and other foodstuffs in the Kingdom.
The main index rose 3.2 per cent, its biggest rise since April 2012, to a fresh six-year high of 10,062 points in the first hour of trade.
Saudi Arabia plans to open its stock market to direct investment by foreign financial institutions in the first half of next year.
A statement from the cabinet did not specify a timetable for the market to be opened.
In April, the IMF had forecast GDP growth in the Kingdom to reach 4.1 per cent for 2014.
The drop was caused by a provision against a scrapped network sharing deal with Atheeb Telecom.
The Indian firm will have 51 per cent ownership in the joint venture called Tech Mahindra Arabia while Saudi-based Midad will have a 49 per cent stake.
Net profit in the three months to June 30 was SAR191.2 million ($51.0 million), compared to SAR165.2 million in the same period a year earlier.
The company made SAR3.66 billion during the three months to June 30, compared to SAR1.50 billion during the same period of the previous year.
STC changed the valuation of last year’s sale of a majority stake in Indonesia’s Axis from a SAR598 million loss to a SAR41 million gain.
The firm, owned by billionaire Prince Alwaleed bin Talal, attributed the rise to an increase in gains on investments and dividends income.
Mohamed al-Mady said the global outlook for petrochemical demand over the next three years is positive.
Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market to close six per cent lower.