Prime Minister weeks Saudi ArabiaMohamed bin Salman (MbS) immediately announced a frenzied construction project in 12 cities.
The Saudi Crown Prince started the project by introducing the Saudi Downtown Company.
The company is responsible for the construction and development of central areas and other locations in 12 cities that can be used for various industries.
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Arab News reports that the 12 cities include Medina, Al-Khobar, Al-Ahsa, Buraidah, Najran, Jazan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal and Tabuk.
The Saudi Downtown Company is tasked with improving infrastructure and forging strategic partnerships with investors and the private sector to build new businesses and investments in the twelve cities.
The sectors targeted by Saudi Arabia in the cities include retail, tourism, entertainment and housing.
The new company will carry out the construction on more than 10 million meters of land. There they will build modern destinations inspired by local culture and traditional architectural motifs.
In each of the regional modernization projects, the Saudi Downtown Company (SDC) will use the most modern technology.
With the launch of the SDC, the Saudi Public Investment Institute hopes to increase business and investment opportunities in several Saudi cities.
This project is in line with the Saudi Vision 2030 launched by MBS in 2016. At the time, Saudi Arabia was trying to find a source of government revenue other than the oil sector.
Under the aegis of Saudi Vision 2030, MbS wants its country to have more diverse sources of income by 2030.
Before being appointed PM, MBS as the de facto leader of Saudi Arabia also launched various crazy development projects to revive the tourism sector.
With that ambition, MbS broke various boundaries, one of which was when he allowed bikinis to be worn on a Saudi beach.
After being named PM last week, MBS is expected to continue promoting other programs to meet the Saudi Vision 2030 target.
(ha / bac)
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