Saudi Arabia aims for huge new downtown in Riyadh by 2030 – Reuters.com
- Date: 17-Feb-2023
- Source: Reuters
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Arabia aims for huge new downtown in Riyadh by 2030 – Reuters.com
DUBAI, Feb 16 (Reuters) - Saudi Crown Prince Mohammed bin Salman on Thursday launched a company to carry out a hugely ambitious development in downtown Riyadh, as part of the leading oil exporter's plans to make its capital a global metropolis and diversify the economy.
The kingdom aims to double the size and population of its capital city with total investments of $800 billion under its Vision 2030 plan to modernise the Gulf Arab state and reduce its dependence on oil export revenues.
State news agency SPA said the New Murabba Development Company's project would include a museum, a technology and design university, a multi-purpose immersive theatre and more than 80 cultural and entertainment venues.
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