France New COVID-19 Cases above 2,500 for 3rd Day in Row    The Royal Court Announces Death of Prince Abdulaziz bin Abdullah bin Abdulaziz bin Turki Al Saud    State Street appoints CEO and senior officers for new Saudi Arabia office    APIC achieves net profits of $9.02 million in H1 of 2020    G42 Healthcare partners with WHOOP to enhance volunteer experience    44 electronic stores penalized for violating new e-commerce system    Not enough demand for US 30y bond; markets mixed    Pakistanis celebrate Independence Day with zeal and fervor    MoH: ICU Beds Increased By 43% in Riyadh Hospitals    India welcomes normalization of ties between UAE and Israel    Emirati Al Nuaimi, Gemany's Hansske top in the DXB Snow Run at Ski Dubai    Lebanese President Meets with UN Official    1,383 new coronavirus cases, 35 deaths reported in Saudi Arabia    Philippines confirms 6,216 new coronavirus cases, 16 deaths    Dammam Port Records Highest Number of Container Handling from One Ship    UN chief welcomes Israel-UAE agreement    Custodian of the Two Holy Mosques Congratulates President of Congo on Independence Day    Riyadh Declaration" of Digital Health Summit outlines practical plan to confront epidemics    Wall Street Closing    Still plenty to play for in Saudi Pro League    HRC monitors 243 human rights cases last year    W20 Group calls for urgent action on women's economic empowerment    SAFCSP Launches Online Cybersecurity Bootcamp for Saudis    Qualifying matches for World Cup 2022, Asian Cup 2023 rescheduled    King Salman arrives in Neom for rest    Saudi Films Festival poised to witness wide participation, reports say    Saudi Arabia Launches First Luxury Cruises Along Red Sea Coast on August 27    SAR Wins International Safety Award 2020 from British Safety Council    Fourth edition of the Noon Arts Award open for submissions    Louvre Abu Dhabi joins J. Paul Getty Museum in investigating ancient panel paintings    Thousands participate in SFA's first Step Together half and full summer marathon    Saudi woman seeks to restrain wealthy hubby from remarrying    Human evolution and woman    Maraya hall in AlUla wins prestigious architecture award    Juventus Sacks Sarri After Exit UEFA Champions League    Al-Nasr, Al-Hilal Fans Follow up Riyadh Derby, in various Cinemas, Venues    India's top minister Amit Shah tests positive for coronavirus    Aubameyang double helps Arsenal beat Chelsea for 14th FA Cup trophy    Azra Aly, South African pilgrim: ‘The beginning of the rest of my life'    Paris Saint-Germain beats Lyon to win League Cup final    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Islam calls for protecting communities against epidemics: Sheikh Al-Manea    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Complementary, Alternative Medicine Practicing 1st Manual Version Issued    Saudi Ithra center launches dialogue sessions with most famous creators in the world    SFDA Implements National Program to Ensure Safety of 10,000 Food Samples    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Riyadh Metro to open partially by end of year SR3 trillion projected investments in 10 years in Saudi capital city
Published in The Saudi Gazette on 07 - 07 - 2020

RIYADH — Fahad Al-Rasheed, president of the Urban20 (U20) and the Royal Commission for Riyadh City (RCRC), said that the Riyadh Metro will be opened partially before the end of 2020. He said that the Saudi capital will attract massive investments worth SR3 trillion over the coming 10 years.
Al-Rasheed said in a television interview that Riyadh, with a population of seven million, is ranked 49th in terms of population among the cities of the world but it is ranked 18th economically among these cities. This is because of the fact that the capital city contributes to more than 47 percent of the Kingdom's non-oil GDP, showing its magnificent economic size at the global level.
"The sky is the limit for our ambition in Riyadh, and we anticipate doubling of the city's population to 15 million as well as doubling of the size of the economy with the implementation of more than 18 giant projects, including Riyadh Metro, Al-Diriyah, Qiddiya, Riyadh Art and Green Riyadh," he said.
Al-Rasheed said that the state is investing SR1 trillion on these giant projects and another SR1 trillion in new housing units with the population doubling to 15 million. Subsequently, this necessitates tremendous growth of the private sector with investments worth another SR1trillion, raising the total amount of investment to SR3 trillion during the next ten years, he said, noting that this is a huge figure at the global level as it is taking place in a single city.
Al-Rasheed emphasized that despite the current circumstances of the coronavirus pandemic, Riyadh has succeeded in forging a partnership with the City of Houston as it hosted the second U20 meeting of mayors' representatives (Sherpas). The virtual Sherpa meeting was attended by representatives of 30 global cities in addition to that of 15 international institutions.
He underlined the importance of the meeting as it was the third of its kind globally and it aims to develop prosperous societies and the development of urban issues, depending on the nature of its implementation. "More than 16 working papers were presented during the meeting that included many ideas and solutions that will benefit many cities in the world, including Riyadh, in the future, at a time when cities are seeking to restore their normal life after containing the coronavirus pandemic."
It is noteworthy that U20, one of the G20 engagement groups, chaired by Al-Shareef, is a powerful platform for city leaders to voice, collaborate, discuss and concur on crucial environmental, social and economic issues in the urban realm.


Clic here to read the story from its source.