RIYADH: The Saudi capital is set to witness a flurry of investments in the second quarter of 2023 as Riyadh municipality has launched more than 40 initiatives for investors, the Saudi Press Agency reported.
The municipality is offering new investment opportunities in different sectors such as industries and sports.
Its secretariat stated the opportunities are aimed at attracting investors, companies, entrepreneurs, and owners of innovative projects.
These initiatives are part of the municipality’s efforts to encourage the private sector to contribute to the city’s development and improve the quality of services provided to the citizens, it added.
FASTFACTS
The opportunities will enable the private sector to participate in the economic development of Riyadh, by improving urban living and contributing to the Kingdom’s Vision 2030.
There are three further opportunities in the residential and commercial sectors. The projects, which have durations of 15 to 25 years, cover Riyadh’s Cordoba, Casablanca, and Deira neighborhoods.
These opportunities will enable the private sector to participate in the economic development of Riyadh, by improving urban living and contributing to the Kingdom’s Vision 2030.
Three of these investment opportunities cover Mahdia, Al-Munsiyah, and Al-Rabie districts.
Additionally, there are three further opportunities in the residential and commercial sectors. The projects, which have durations of 15 to 25 years, cover Riyadh’s Cordoba, Casablanca, and Deira neighborhoods.
In April 2023, Remat Al-Riyadh Development Co., the development arm of the municipality, announced the launch of investment opportunities in outdoor advertising in the city.
These opportunities include new advertising formats such as ads on building fronts, white lands, and public taxis and buses.
The development company, which was launched last year, aims to enhance the municipality’s operational tasks in the region, allowing the private sector to undertake and develop initiatives.
