Saudi ministry studying steps to increase private sector’s role in urban development

RIYADH: Saudi Arabia’s Ministry of Municipal, Rural Affairs, and Housing is studying 15 initiatives to create investment and financing opportunities to help raise the contribution of the private sector in the development of cities, Argaam reported on Sunday.
Majed Al-Hogail, minister of municipal, rural affairs, and housing, said in a tweet the steps are under study by the sub-committees of the Advisory Committee for Investment in the Municipal Sector, led by a group of businessmen.
The key initiatives include coming up with products that bolster the attractiveness of investments offered by the municipal sector and mechanisms for developing and operating parks in partnership with the private sector. These initiatives also aim to provide incentives to attract investments to less developed cities, according to the minister.