Saudi Arabia unveils $22bn worth of projects in Riyadh

The projects include 15 housing developments aimed at increasing home ownership among Saudis in the capital
Saudi Arabia unveils $22bn worth of projects in Riyadh
King Salman ordered that Saudi citizens held imprisoned on financial – rather than criminal – cases be freed, provided that their debts do not exceed SAR 1 million ($266,655) and whose insolvency can be proven.
By Bernd Debusmann Jr
Thu 14 Feb 2019 09:43 AM

Saudi Arabia’s King Salman has launched a $22 billion project in the Riyadh to improve infrastructure, amenities and education in the region, it was announced on Wednesday.

The 1,281 development projects include 15 housing projects in the Riyadh region designed to increase home ownership among Saudi citizens, as well as the world’s largest Islamic museum, sports cities, seven medical cities and 16 educational projects.

Additionally, the Saudi government will create a 315,000 square metre environmental area spanning the lakes to the south of Riyadh, as well as airport expansions and the development and upgrading of the area’s road network.

The plan also calls for the development of an ambulance centre, a modernisation project for the Riyadh TV renovation project, and the establishment of a specialist mental health hospital.

The projects were announced by Riyadh governor Prince Faisal bin Bandar during the an event at Qasr Al-Hukm.

During the event, he noted that the projects form part of a wider programme of 2,830 projects collectively worth over $90 billion.

At the same event, King Salman ordered that Saudi citizens held imprisoned on financial – rather than criminal – cases be freed, provided that their debts do not exceed SAR 1 million ($266,655) and whose insolvency can be proven.

King Salman previously served as governor of Riyadh for nearly 50 years.

For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.