The Riyadh city strategy includes almost 100 initiatives and projects, Al-Eqtisadiah paper reported citing Fahd Al-Rasheed, CEO of the Royal Commission for Riyadh City (RCRC),Arab News has reported.
The investments of the Saudi government, represented by RCRC, the Public Investment Fund (PIF) and investment arms, reached $220 billion (SAR 825 billion).
The RCRC is planning to partially launch Riyadh Metro in Q3 2021, following commencement of trial operations, Al-Rasheed noted, pointing out that the RCRC is studying its expansion following an increase in the total area, population and investments in the Saudi capital.
Riyadh is the fortieth largest city economy worldwide. Agreements were signed with 20 foreign companies to locate their regional headquarters in Riyadh.
Al-Rasheed explained that the world’s largest industrial city in Riyadh targets nearly 100 million people, noting that the city will be a logistic hub for the entire region. It will also a regional hub for intertrade among all city in the region.
The RCRC started to deliver the strategy goals through the public transport projects, Riyadh metro, infrastructure projects in the city, as well as other projects, including King Salman Park, and Qiddiya.