Riyadh is embarking on an ambitious endeavor. The city is poised to undergo a major expansion, doubling its size within the next seven years. It is driven by an impressive investment of $1 trillion in infrastructure projects throughout the Saudi capital.
In the wake of Crown Prince Mohammed bin Salman’s announcement, the Saudi capital is poised for an upsurge in construction activity, having already granted contracts totaling $12.2 billion. Moreover, projects worth $18 billion are presently in the bidding/evaluation phase, with an additional $170 billion projected for future allocation, according to experts.
Projects in Riyadh
Its 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 outstanding bid to host Expo 2030 further expresses the city’s ambitions. It will deliver a $7.8 billion master plan, a cornerstone of Riyadh’s continued evolution into a thriving global destination.
Riyadh is also a major part of the Kingdom’s plans for a sustainable economic future and currently represents around 50% of the non-oil-based economy in Saudi Arabia. With a vibrant economy, lively cultural scene, and open visa policy, Riyadh has set out plans to become one of the most visited cities in the world, according to industry experts.
This major investment in infrastructure is vital to delivering a world-class destination for health, education, research, and business as it gears up for major transformational change by 2030. The Saudi capital is eyeing a place in the list of the world’s top ten cities by 2030 and is putting in place the vision and investment to achieve this.
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