By Innovation-sa on April 24, 2019 in News
As Saudi Arabia is boosting its infrastructure spending in line with the objectives of Vision 2030, the world’s leading oil-exporting nation is witnessing more master development launches than ever before, says management consultancy firm Faithful+Gould.
Saudi Arabia has plans to spend $1.1 trillion on infrastructure projects from 2019-2038 and already has a long list of multi-billion dollar mega projects such as NEOM, Al-Ula, Red Sea and Qiddiya under construction. In addition, last month King Salman launched four well-being projects – King Salman Park, Sports Boulevard, Green Riyadh, and Riyadh Art – worth $23 billion (SR 86 billion) in the capital city.
Spencer Wylie, Faithful+Gould’s country director said,”We are seeing more master developments launched to provide integrated and dynamic lifestyle destinations with commercial, residential, retail, leisure and entertainment offerings that cater to the growing population’s needs and support the tourism sector”.
Argaam – April 2019