As part of the objectives of Saudi Vision 2030, the capital Riyadh will witness an important economic event represented by the development of the largest modern downtown in the world. Crown Prince Mohammed bin Salman announced this project along with the launch of the New Square Development Company, which will rely on sustainable design standards and improving the quality of life. So, what will this project include?
The project is marketed as the new face of the city of Riyadh and a gateway to another world. It will feature green spaces, provide walking paths, enhance health and sports concepts along with community activities, an innovative museum, a university specialized in technology and design, a fully integrated multi-use theater, and more than 80 areas for live performances and entertainment. In a unique gesture, the project will construct an icon embodying the "Cube" as a global civilizational symbol, built in a creative architectural manner with dimensions of 400 meters by 400 meters by 400 meters.
The new downtown will be only a 20-minute drive from the airport and is located at the intersection of King Salman and King Khalid Roads, northwest of Riyadh, covering an area exceeding 19 square kilometers. The project will be able to accommodate hundreds of thousands of residents through 104,000 residential units, 9,000 hospitality units, and commercial spaces extending over 980,000 square meters, in addition to 1.4 million square meters of office spaces, about 620,000 square meters for entertainment facilities, and around 1.8 million square meters for community facilities, as reported by Asharq Al-Awsat newspaper.
This new significant economic step will contribute to supporting the non-oil gross domestic product by up to 180 billion Riyals and creating 334,000 direct and indirect job opportunities. The project acts as a new developmental horizon, with completion expected in 2030, as part of Saudi Arabia's plan to achieve unique and qualitative leaps.
