Saudi Arabia … investing $ 220 billion to develop Riyadh over 10 years


The CEO of the Royal Commission for Riyadh, Fahd Al-Rasheed, said that the government plans to invest $ 220 billion to transform the capital into a global city by 2030.

This comes within the plan of Crown Prince Mohammed bin Salman to make Riyadh one of the 10 largest cities in the world compared to its current position in the forty place.

Al-Rasheed said that more than 100 investment projects will be announced in Riyadh within the next two months, with a focus on the financial, banking, industrial, logistics services, biotechnology, digital economy, and other sectors.

The Royal Commission is also investing in projects aimed at improving the quality of life in the capital by increasing green spaces and recreational areas, and by spreading 1,000 pieces of art throughout the city.

The Public Investment Fund plans to invest 3 trillion riyals ($ 800 billion) in new sectors over the next ten years.


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