Downtown Saudi Arabia will contribute to the development of urban infrastructure and promote strategic partnerships with the private sector and investors by offering many new investment opportunities in the business, shopping, tourism, entertainment and housing sectors. The company will contribute to the development of city infrastructure and foster strategic partnerships with the private sector and investors by offering new investment opportunities in the business, retail, tourism, entertainment and housing sectors.
Downtown Saudi Arabia will work to create and develop multiple and diverse urban centers and destinations across the Kingdom.
Downtown Saudi Arabia will launch its projects in 12 cities, namely: Medina, Al Khobar, Al Ahsa, Buraida, Najran, Jizan, Hail, Al Baha, Arar, Taif, Dumat Al Jandal, and Tabuk. It intends to develop more than 10 million square meters for its projects, which are designed in a modern style derived from the spirit and culture of the Kingdom's regions and its local urban fabric, taking into account the application of the latest approved standards.
<The Public Investment Fund (PIF) aims through Downtown Saudi projects to contribute to enhancing the commercial and investment movement in various cities around the Kingdom, increasing their attractiveness and enhancing the positive impact on the local economy. As well as providing new opportunities for private sector companies, creating job opportunities for the people of the regions, and benefiting from the transfer of expertise and knowledge in several fields, as the projects will provide a distinctive work environment that suits the requirements of companies and entrepreneurs to contribute to the expansion of their business to other cities and regions in the Kingdom.
The launch of “Downtown Saudi Arabia” comes as a result of the launch of the Public Investment Fund's “Downtown Saudi Arabia” projects. <The launch of “Downtown Saudi Arabia” comes as an extension and confirmation of His Highness the Crown Prince's efforts to develop the Kingdom's regions in line with the comparative and competitive advantages of each region, based on his belief in the effective role that city economies play in supporting and strengthening the national economy. The company's strategy is in line with the Public Investment Fund's efforts to develop and empower promising sectors in the Kingdom, and contribute to achieving the Fund's objectives to diversify the Saudi economy and increase non-oil GDP growth, in line with the objectives of the Kingdom's Vision 2030.
