On Tuesday, the Crown Prince of Saudi Arabia Mohammed Bin Salman declared recreational projects in the capital Riyadh worth $23 billion, officials claimed, in a fresh way to transform the congested city.
The 33-year-old Crown Prince Mohammed bin Salman make the announcement of the investment in a high-profile project which comprises four different projects which are- an entertainment park, a sports boulevard, a tree-lined oasis, and an arts center.
Meanwhile, the state media revealed in one of their reports that the King has also directed to name one of the main roads of the Riyadh after the controversial prince.
According to the officials, moreover, tens of thousands of jobs will be generated by the construction projects and said that it will be started in the second half of 2019.
Prince Mohammed will head the government committee overseeing the projects, which a government statement said will create opportunities worth $15 billion in private sector investment.
In recent years, mega projects worth hundreds of billions of dollars in a bid to diversify the oil-reliant economy has been declared by the Arab but implementation has been slow.
There is a plan of a project which includes constructing the $500 billion NEOM mega city on the northern Red Sea coast.
The declaration of Tuesday , are the latest potential sign of the support from the Saudi King to the De Facto Ruler, as well as Saudi Crown Prince , who confronts the international criticism over the brutal murder of the Saudi critic , as well as Washington columnist Jamal Khashoggi in the last year inside the Istanbul consulate of the Arabian kingdom.
- United Arab Emirates
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