Riyadh to undergo $74bn overhaul

  • Share via facebook
  • Tweet this
  • Bookmark and Share
More than 60 agencies have been authorized to follow up on the implementation of new projects in Riyadh.

More than 60 agencies have been authorized to follow up on the implementation of new projects in Riyadh.

Saudi Arabia's Riyadh Development Authority (RDA) approved a SAR278bn ($74bn) plan that will see the more than 3,000 projects in the capital city.

The plan which will overhaul Riyadh includes development of housing projects in the city centre, and the central region of the kingdom will have three main railway lines, Arab News reported, citing Ibrahim Al-Sultan, a member of the RDA and head of the authority's centre that oversees planning.

More than 60 agencies have been authorized to follow up on the implementation of these projects.

Four consortiums of 33 companies include France's Vinci and Alstom, Italy’s Ansaldo, Canada’s Bombardier, Germany’s Siemens and Switzerland's Stadler Bussnang are bidding to build a metro network in Riyadh.

Six lines of electric rail, totalling 175 km, are planned across Riyadh to serve the airport and the King Abdullah Financial District currently under construction.

Saudi Arabia, the largest economy in the Arab world and biggest producer of oil globally, is spending more than $500bn to expand its infrastructure.  An expected budget surplus in 2013 and the  government drawing down its foreign assets, which stood at around $634.8bn at the end of November 2012, will help finance its expenditure plans in the event of any shortfall in revenues, Jadwa Investment said in a report last month.

Construction is forecast to be the fastest growing sector in 2013, according to Jadwa. 

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: FrequentTraveller

I would start with getting the staff at passport control to actually do their job!

Posted by: saudi engr

I advise you to get the eGatge card and you will solve your problem. It is easy and free and you dont have to stay in line.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Time to invest?

Time to invest?

Foreign investors are seeing Qatar as an ideal place to purchase...

Heading for a correction?

Heading for a correction?

Property prices may have held relatively steady in Lebanon during...

Emaar's 'city of the future' explained

Emaar's 'city of the future' explained

The Iraqi city of Erbil is aiming to build on Dubai’s rapid march...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams