Riyadh: Saudi Crown Prince and Prime Minister Mohammad bin Salman, who is also chairman of the Board of Directors of the Qiddiya Investment Company (QIC), launched the urban design and the global brand for the city of Qiddiya.
On Thursday, December 7, the Crown Prince emphasized the city’s goal to become the leading global destination for entertainment, sports, and culture, enhancing the Kingdom’s economic growth, international standing, and strategic position.
The prince stated that the plan aims to enhance the quality of life and elevate Riyadh to one of the world’s top 10 economies, the Saudi Press Agency (SPA) reported.
The investment in the city of Qiddiya is a cornerstone of the Saudi Vision 2030, which aims to diversify the economy and create job opportunities for Saudi youth, he said.
Qiddiya, a Public Investment Fund project, aims to support the Kingdom’s tourism and economic goals, improve quality of life, attract local, regional, and international investors, and support Riyadh.
Construction in the city is underway, with contracts worth 10 billion Saudi Riyals awarded, aiming to house over 600,000 residents in 60,000 buildings across 360 square kilometres.
It is projected to generate over 3,25,000 job opportunities and generate a nominal GDP of 135 billion Saudi Riyals per annum.
The company is projected to generate an anticipated 48 million annual visits.
Qiddiya city, 40 minutes from Riyadh, features a gaming and e-sports district, speed park, golf courses, water theme park, Six Flags Qiddiya, and the world’s largest Olympic museum.
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