RIYADH, Oct 4 (NNN-SPA) – Saudi Arabian Crown Prince, Mohammed bin Salman Al Saud, announced yesterday, the launch of the Saudi Downtown Company, for urban development across the kingdom.
Affiliated with the Saudi Public Investment Fund, the company will build and develop downtown areas and mixed-use destinations in 12 cities, including Al-Madinah, Al-Baha, Najran, Jizan, Taif and Al-Jandal.
It will develop more than 10 million square metres of land in total, incorporating diverse local cultures and traditional architectural motifs, as well as, advanced technology in each project.
The company will work to improve infrastructure in these cities and build partnerships with private investors, by creating new business opportunities in the sectors of retail, tourism, entertainment and housing.
