Saudi Arabia Announces $800 Billion Plan to Transform Riyadh as Emerging Cultural Hub
H.E. Fahd Al-Rasheed, President of the Royal Commission for the City of Riyadh, announced an $800 billion plan to transform Saudi Arabia’s capital city, Riyadh, into a social, economic and cultural hub for the Middle East. The project will work towards reshaping Riyadh to become an artistic and cultural center, with 1,000 public art exhibitions and potential opera house, and an industrial zone, with a focus on advanced technology, automation, biotechnology, energy conservation, and sustainability. The city also plans to plant 7 million trees within the next few years. Currently, there are 18 megaprojects launched in Riyadh, worth over $250 billion, aimed to stimulate economic growth and improve quality of life.