Prince Muhammad bin Salman bin Abdulaziz, crown prince and chairman of the board of directors of the Saudi Public Investment Fund, launched the “Downtown Saudi Company” yesterday (Monday), which aims to establish and develop multiple and diversified urban centers and destinations throughout. The kingdom.
The center of Saudi Arabia will launch its projects in 12 cities, namely Madinah, Al Khobar, Al Ahsa, Buraydah, Najran, Jizan, Hail, Al Baha, Arar, Taif, Dumat Al Jandal and Tabuk.
The new company intends to work on the development of over 10 million square meters for its projects designed, according to the modern character and derived from the spirit and culture of the regions of the Kingdom, and its local urban fabric, taking into account the application of the latest approved standards.
The company focuses on developing city infrastructure and strengthening strategic partnerships with the private sector and investors through new investment opportunities in the business, shopping, tourism, entertainment and housing sectors.
The Public Investment Fund, through the “Downtown Saudi” projects, aims to provide new opportunities for private sector companies and create job opportunities for people in the regions, as well as benefit from the transfer of skills and knowledge in different fields.
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Saudi Arabia
Saudi Arabia
Mohammed bin Salman, Crown Prince of Saudi Arabia
