(MENAFN- Trend News Agency)
Saudi Arabian Crown Prince Mohammed bin Salman Al Saud announced
on Monday the launch of the Saudi Downtown Company for urban
development across the kingdom, the Saudi Press Agency reported,
reports
citing .
Affiliated with the Saudi Public Investment Fund, the company
will build and develop downtown areas and mixed-use destinations in
12 cities, including Al-Madinah, Al-Baha, Najran, Jizan, Taif and
Al-Jandal.
It will develop more than 10 million square meters of land in
total, incorporating diverse local cultures and traditional
architectural motifs as well as advanced technology in each
project.
The company will work to improve infrastructure in these cities
and build partnerships with private investors by creating new
business opportunities in the sectors of retail, tourism,
entertainment and housing.
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