Riyadh aims to double in size over the next seven years on the back of $1 trillion infrastructure projects across the Saudi capital in a bid to cater to an ever-increasing population which will soar to 15 million from 7.5 million, said experts ahead of Cityscape Global expo, which kicks off this month (September 10 to 13).
Riyadh is set to experience a surge in construction activity with some $12.2 billion of contracts having been awarded till date. A further $18 billion worth of projects are currently at the bidding/evaluation stage with an additional $170 billion to be awarded in the near future, stated the experts.
Its flagship projects include the world’s largest urban development project (Murabba) by the New Square Development Company and the world’s largest new passenger terminal at King Salman International Airport. Riyadh’s recent bid to host Expo 2030 is a further statement of the city’s ambitions and will deliver a $7.8 billion masterplan that is a cornerstone of Riyadh’s continued evolution into a thriving global destination.
This major investment in infrastructure is vital to delivering a world-class destination for health, education, research and business as the city gears up for major transformational change by 2030. The Saudi capital is eyeing a place in the list of world’s top ten cities by 2030, they stated.
Authorities in Saudi Arabia have backed plans for major infrastructure projects across the city, said the organisers of Cityscape Global expo.
These projects will be showcased at the mega event in addition to other ‘giga’ projects including Neom, the Red Sea Project and Qiddiya, with others yet to be revealed.
The event’s agenda will also feature a host of global visionaries and thought-leaders including Anna Konif Jerlmyr, former Mayor of Stockholm and Board Member of AGV invest; Stephen Yarwood, Urban Futurist and the former Lord Mayor of Adelaide; Lord Gavin Barwell, former British Minister of State for Housing and Planning, and Former Chief of Staff to the British Prime Minister; Ger Baron, Chief Technology Officer, City of Amsterdam and Jeremy M. Goldberg, Worldwide Director of Government Operations and Critical Infrastructure, Microsoft.
Cityscape Global is the premier international property investment and development event that brings together visionaries from around the world to shape the future of urban landscapes.
The event offers a unique opportunity for industry professionals, investors, and thought leaders to engage in meaningful discussions, gain valuable insights, and establish strategic partnerships. Featuring a diverse range of networking opportunities, informative panel discussions, and interactive exhibits, Cityscape Global showcases the latest trends and innovations in the real estate industry.
It is being organised by Tahaluf – a joint venture partnership between the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), Events Investment Fund (EIF) and Informa, the world’s largest tradeshow organiser.