Saudi capital commits $1t towards major infrastructure projects
Transactions - AUGUST 16, 2023

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Saudi capital commits $1t towards major infrastructure projects

by Andrea Zander

Riyadh, Saudi Arabia’s capital and main financial hub, has staked its claim to become one of the world’s top 10 cities by 2030.

Ahead of a major international real estate event, Cityscape Global, to be held in the city in September, Riyadh has announced plans to double in size, increasing its population from 7.5 million to 15 million.

Authorities in the Kingdom of Saudi Arabia have backed plans for major infrastructure projects across the city, equating to an investment of some $1 trillion in the next seven years. Flagship projects include the world’s largest urban development project by the New Square Development Company and the world’s largest new passenger terminal at King Salman International Airport.

A recent successful bid to host Expo 2030 is a further statement of the city’s ambitions and will deliver a $7.8 billion master plan that is a cornerstone of Riyadh’s continued evolution into a thriving global destination.

Following the annou

Forgot your username or password?