Ahmed Al-Shinqiti, head of the National Development Program at Public Investment Fund, revealed that the Fund and its subsidiaries aim to invest about 4 trillion riyals in the real estate development sector in the Kingdom over the next ten years.
Ahmed Al-Shinqiti, head of the National Development Program at Public Investment Fund Al-Shinqiti said in a speech during his participation in the Northern Borders Investment Forum, that one of the most important real estate development projects is the Downtown Saudi Arabia project, which targets the real estate development of about 10 million square meters in 12 cities in Saudi Arabia.
The Saudi official explained that the fund, with its subsidiaries, aims to invest about 4 trillion riyals in the real estate development sector in the Kingdom in the next ten years. <The Saudi official explained that targeting الصندوق To achieve 60% of local content by 2025, it will contribute to creating many opportunities for local industries and utilizing the project during its construction and after its completion.
The Northern Borders Investment Forum, organized by the Emirate of the region and the Federation of Saudi Chambers, concluded yesterday evening at the Ministry of Interior Employees Club in Arar, which lasted for two days, in the presence of more than 600 Saudi and foreign investors.
Many of the events addressed many opportunities for local industries to benefit from the project during its construction and after its completion. Several dialogue sessions, in which a number of ministers, officials, experts and consultants, a number of company presidents, executives and businessmen and women participated, addressed many investment and economic topics, stimulating potentials and comparative advantages in the Northern Borders region, in addition to signing a number of agreements between a number of government and private entities.
During the forum, a number of issues were raised and discussed. During the forum, more than 157 investment opportunities were presented in the Northern Borders region with an estimated value of 22 billion riyals, in a number of targeted sectors, such as transportation, logistics, mining, education, health, real estate development, municipalities, industry, tourism, hospitality and scientific research.
