Saudi Arabia will announce a new development plan for Riyadh as part of its efforts to make it one of the world’s 10 largest city economies. Riyadh represents about 50 percent of the non-oil economy in Saudi Arabia while the cost to create jobs in the city are 30 percent less than the other cities of Saudi Arabia. All of Riyadh’s features set the groundwork for job creation, economic growth, investment, and many more opportunities. Aiming to make Riyadh one of the 10 largest city economies in the world – today it stands at number 40. Cost of developing infrastructure and real estate is also 29 percent less than the other cities while the infrastructure in Riyadh is already very well accomplished because of the sound management and planning.
Saudi Arabia also plans for a Green Riyadh program, with millions of trees being planted in the city to reduce temperatures and dust levels. There are also plans to improve the environmental condition of the city and the province, as well as supporting other environmental projects in Saudi Arabia to be announced at a later date. Saudi Arabia’s King Salman in 2019 launched four wellbeing projects costing $23 billion for Riyadh, which aim to significantly improve the lives of its citizens and transform the city into one of the world’s most livable cities. The four wellbeing projects – King Salman Park, Sports Boulevard, Green Riyadh and Riyadh Art – complement the Saudi Vision 2030’s Quality of Life Program. Government will invest $23 billion, with the four projects offering opportunities worth $15 billion for the private sector to invest in the residential, commercial, recreational and wellness areas. Addition to providing tens of thousands of new jobs, they will also contribute to an integrated approach to wellness, health, sports, culture and the arts, underpinned by a commitment to environmental sustainability.