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British firm Rolls-Royce has fired up the first six Kinetic PowerPacks to provide an energy supply for the Middle East’s largest supercomputer facility located in King Abdullah University for Science and Technology.
The firm has shipped 12 of the huge batteries, known as maximum transmission units, to KAUST from its factory in Liege, Belgium, in order to aid its Scientific Computing Data upgrade and power the supercomputer known as Shaheen III.
A maximum transmission unit sets the amount of data that can be transmitted in bytes over a network.
The devices have a power output of 1.6 MW each, and should a power outage occur, the systems – which are designed for humid conditions and temperatures as much as 50 degrees Celsius – will secure critical load and ensure the starting of the diesel engine via their continuously rotating sturdy kinetic energy accumulators.
The first six are now switched on, with the remaining switch to be activated at a later date.
“The mtu Kinetic PowerPacks are state-of-the-art, uninterruptible electrical power systems that are designed for operating in extreme environments and provide the highest reliability of back-up power for the most critical and essential systems,” the statement said, citing the Vice President of Facilities for KAUST, Matthew Early.
The systems include healthcare facilities, airports, data centers, and Shaheen III.
Projected to be the Middle East’s most powerful supercomputer, Shaheen III will enable KAUST to further enhance its ability for scientific discovery and artificial intelligence innovation, the vice president added.
Shaheen III is set to be operational in 2023, and is set to be 20 times faster than KAUST’s current existing system.
Earlier this year, KAUST partnered with the Saudi Data and Artificial Intelligence Authority to increase human capacity and innovation in the field of AI in Saudi Arabia and the region.
“The SDAIA-KAUST Center of Excellence in Data Science and Artificial Intelligence will focus on educational development and upskilling the new generation of Saudi citizens in AI,” KAUST President Tony Chan said.
source/content: arabnews.com (headline edited)
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Rolls-Royce shipped the devices from its factory in Liege, Belgium (Shutterstock)
Saudi Arabian Airlines has agreed to buy 100 innovative electric vertical take-off and landing planes as it seeks to connect Jeddah with the Kingdom’s leading tourist destinations, according to one of the firm’s leading officers.
Speaking to Arab News on the sidelines of the Future Investment Initiative in Riyadh, Group Chief Marketing Officer Khaled Tash said Saudia — the airline operated by his firm — will be the first in the region to make use of the technology.
The deal has been struck with German company Lilium, which is in the final testing phase for the aircraft, with operations expected to start in two years.
Tash said Saudia will be using the aircraft to improve access to destinations alongside the Red Sea and Makkah.
“That will actually be our first priority in the next few years to connect to the airport with Makkah whereby some of our premium passengers can land in Jeddah airport, take one of these small planes and go to Makkah and back in a few minutes. That will be a breakthrough,” he said.
The executive insisted the announcement shows air mobility in Saudi Arabia is set to move into a different era.
“When we think about what’s happening in the country, Vision 2030 is about a lot of transformation that is happening in the Kingdom and maybe today’s announcement, that we made with Lilium, is probably a testimony to how Saudi national champions like Saudi airlines are walking the talk,” Tash said.
“We want to be at the forefront of innovation, EVTOLs — or electric, vertical, takeoff and landing aircrafts — are the future of air mobility, I think in especially short distances. For us to be the first Middle Eastern and North African within that region, the first airline to make this step towards EVTOLs, I think that means a lot for us,” he added.
Tash used the example of seaplanes connecting the islands of the Maldives as delivering economic benefits to tourism — something he hopes will be replicated in Saudi Arabia.
The commitment to 100 vehicles will also offer value for money for his firm, he added, saying: “By moving by big players like Saudia moving into early adoption of such a technology or such an innovation, that will have, hopefully a very good impact on the cost.”
“So if we start with Jeddah to Makkah and then with with Jeddah to the Red Sea or Jeddah to AlUla URL, or Jeddah to King Abdullah Economic City, the more use cases we can find for this, the more commercial opportunities we will have and the less cost it will be,” he said.
“So if I have an aircraft that goes 20 times between Jeddah and Makkah each day, it will definitely be cheaper than going six times a day,” he added.
As well as the economic case for buying the aircraft, there is also a clear environmental benefit.
Tash was clear that while sustainability is a very important topic under the Vision 2030 umbrella, it is also for Saudia.
“We think that electric, in terms of these kinds of EVTOLs, is the future for aviation, and we believe that our sustainability initiatives will be further strengthened,” he said.
“It’s not the only sustainability initiative that we’re doing. We’re working on so many different fronts. We have one of the youngest fleets in general in our entire fleet that also has less emissions. We are committed to work on sustainability, more and more,” Tash added.
source/content: arabnews.com (headline edited)
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Saudi Arabian Airlines Group Chief Marketing Officer Khaled Tash speaking to Arab News on the sidelines of the Future Investment Initiative in Riyadh
Interior design has a much deeper meaning for Nawaf Al-Nassar than for many others out there. For the Saudi designer, looking to the outdoors is what allows him to create the indoors.
Growing up in Jeddah, Al-Nassar travelled to London for his studies, where he was mentored by design icons including Zaha Hadid, Philippe Starck and Gianfranco Ferré. “It was amazing,” he tells Arab News.
After graduating in 1990, Al-Nassar returned to his hometown to work as an interior designer, starting his studio, 3N Jeddah (the three Ns being his name, his father’s name — Nahar — and their family name). It quickly gained popularity, acquiring residential and commercial projects in Jeddah, Riyadh, Cairo, Beirut, London, Paris and the south of France.
In 2017, Al-Nassar established Tasmeem Fair — a Saudi-based art platform for young designers to showcase their creativity. The fair became an instant hit, attracting 9,000 guests in its first week alone. He describes it as “my favorite — and the best — project of my life so far.”
His family’s origins — from a small village north of Riyadh in the center of the Kingdom — played a major role in Al-Nassar’s inspiration. He remembers his grandfather taking him out into the deserted Saudi countryside as a child.
“These were our family gatherings,” he says. “When I used to look at old houses in the beautiful desert, it attracted and relaxed me. When I’d go inside old palaces or any interior space, I always felt more relaxed.
“Since I was young, I’ve always felt more like I’m talking to myself when I’m inside an interior,” he continues. “Then, when I went to high school, I always felt comfortable sitting inside a space that was complete. All of us live in an interior space, but sometimes when we look around, we don’t feel comfortable. When I’d feel that in my youth, I’d find out it was because it was not made by a designer, but by a person who has expertise with walls and ceilings. not with proportion.”
Soon after, he attended a couple of summer schools in the United Kingdom to dive deeper into the world of interior design. And his calling towards the industry only grew. “When I sit with people, I love to know their interior, the outside doesn’t mean anything to me,” he explains. “The interior is the core to know the person more. So I started wanting to know more about the interior of things, which helped me a lot with product design. I really do believe that if the interior of where a person works or lives is not reflecting their character, they can never be themselves.”
For Al-Nassar, an artist should reflect his surroundings and his feelings towards them. As such, he began infusing local Saudi motifs into his designs to pass on to generations to come. “I love the space of my studio,” he says. “It really talks to me. As an interior designer, I use soft materials for the interior, such as fabric furniture, and I deal a lot with European companies.”
Although he owns many fabrics with European motifs, he had been longing to find a Saudi designer with his own design on a fabric. He collaborated with manufacturers to print the first Saudi design on a French fabric company’s products.
“It’s very important when you go inside a space and you see details around you that reflect the surrounding of the city where you are,” Al-Nassar says. “Paris, Cairo and others have that, but in Saudi Arabia, I didn’t see any Saudi motifs, so I started to create this line of fabric design and we started manufacturing pieces.” In May, he designed some furniture for the Kingdom’s Misk Institute. His brief was to use inspiration from a historical building in the country, so he turned to the historic Salwa Palace — the original home of the Al-Saud royal family, located northwest of Riyadh.
“I started to enjoy its smooth elements and I looked at it as an architectural designer,” he says. “It’s as if I was in an orchestra, it was like silent music and it was so beautiful to see.”
From that visit, he created “Takkei” (meaning ‘Let’s sit’), inspired by the stones that form the base of the palace. He used new material to achieve a more industrial look that he believed would be more attractive to younger generations. “It’s about speaking their language,” he explains.
Al-Nassar’s creative process happens in the outdoors. Whenever he is struggling for inspiration, he jumps in his car and drives to the mountains, two-and-a-half hours away from Jeddah. He is revitalized by the surrounding landscape and old houses, some of which date back 200 years.
“I can almost read the culture and the type of life they used to live there,” he says. “I’m definitely inspired by Saudi Arabia — but also by everywhere. You have to go to the location and smell old places to be inspired.”
He mentions the picturesque village of Qaryat Al-Dehin, which is made up of 49 houses built from white mountain marble and quartz. After much research, he visited with a friend who came from Qaryat Al-Dehin. Four hours of driving later, he was immersed in its beauty. He compares it to a moment when he was 16 and he and his father watched the great opera singer Luciano Pavarotti sing in Milan. “Honestly, the same feeling came to me when I looked at these 49 beautiful houses on top of this beautiful mountain,” Al-Nassar says. “It was the same energy — the same music; it was amazing.”
His passion for the outdoors has also extended to his teaching as a guest lecturer in universities. He will often take the students on field trips — something he deems vital for today’s youth. “They have to go there themselves and see the reality on the ground,” he explains. “I have done field trips everywhere in Saudi Arabia for students, and lately it has become for others as well.”
Al-Nassar sees great potential and talent in young Saudi architects and interior designers. He admires their creativity, but suggest they need the right curator.
Ultimately, he hopes such people can build a bridge between the Kingdom and the rest of the world. “Design and art are a message of peace,” he concludes. “I’m already building that bridge, and hopefully it will be finished soon.”
source/content: arabnews.com (headline edited)
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Growing up in Jeddah, Al-Nassar travelled to London for his studies, where he was mentored by design icons including Zaha Hadid, Philippe Stark and Gianfranco Ferré. (Supplied)
Stanford University, one of the world’s leading research and teaching institutions, published its annual “World’s Top 2% Scientists” list — featuring the most widely cited scientists in different disciplines — this week.
It included five faculty members from Riyadh’s Imam Mohammad bin Saud Islamic University: Dr. Rafiq Muhammad Choudhry and the late Dr. Hisham El-Dessouky from the department of engineering; Dr. Kamal Abdul Jawad Buradah and Dr. Ahmed Al-Khayyat from the department of science; and Dr. Qaisar Abbas from the department of computer science.
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Highlight:
The ‘World’s Top 2% Scientists’ list includes Dr. Rafiq Muhammad Choudhry and the late Dr. Hisham El-Dessouky from the department of engineering; Dr. Kamal Abdul Jawad Buradah and Dr. Ahmed Al-Khayyat from the department of science; and Dr. Qaisar Abbas from the department of computer science.
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The university’s president, Dr. Ahmed bin Salem Al-Amri, said that the university’s recognition is a sign of the support that education and research receives from the Kingdom’s leaders.
“The leadership gives special attention to scientific research as a key pillar of the university’s success and a developmental and community-based necessity to transform universities into (places) that serve the development of the knowledge economy, by improving scientific research and its quality and outcomes in order to positively impact the economy and society,” he said.
In recent years, the university has dedicated “specialized programs and quality initiatives as part of its strategic plan to achieve the goals of scientific research and innovation,” and to improve the Kingdom’s ranking in the Global Competitiveness Index, thus achieving the goals of Saudi Vision 2030, Al-Amri explained.
source/content: arabnews.com (headline edited)
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Stanford University, one of the world’s leading research and teaching institutions, published its annual “World’s Top 2% Scientists” list. (Reuters/File Photo)
Fourteen Saudi individuals and two organizations were honored at the 10th Princess Seetah bint Abdulaziz awards for excellence in community upliftment work in Riyadh.
This year’s event was titled “Creativity and Innovation in Social Work,” which also, for the first time, honored students and principals for their social responsibility initiatives.
Dr. Fahad Al-Maghlouth, secretary-general of the Princess Seetah organization, said the aim of the awards was to “discover talent” as part of the Saudi government’s programs to develop the nation.
Princess Nouf bint Abdullah bin Saud Al-Kabeer Al-Saud, chair of the organization’s executive committee and member of its board of trustees, said that community upliftment projects were essential for a healthy society.
In the category “Responsible Citizenship,” several students were honored.
The winner of the elementary schools’ section was student Ayed Al-Ruwaili from Turaif in the Northern Borders, followed by Rima Al-Faris from Riyadh in second, and Hisham Al-Maarafi from Madinah in third.
The middle school winners were Sally Al-Harbi from Qassim in first place, followed by Adeeb Khadawardi from Makkah and Noura Al-Wadi’i from Jazan.
The high school winners were Samira Al-Maghlouth from the Eastern Province, Hanadi Karani from Madinah and Amr Al-Baraq from Jazan.
Also for the first time, as part of its “Tanseeq” platform linking government, non-government, non-profit, and private organizations in the field, two community bodies were honored.
The Osraty Association from Madinah and the Tawad Association from Al-Jouf won for their family development and counseling programs.
The winners of the Umm Al-Joud Initiative prize, for innovation in media and education, were also announced.
First place, for creating general awareness of social responsibility needs in society, was Dr. Abdullah Al-Alawai, who had his biggest supporter — his grandmother — take to the stage and accept the award on his behalf.
In second place was Dr. Mushawah Almushawah, who was honored for creating awareness of mental health issues.
In third place was Khattaf Al-Khattaf for highlighting technological and digital communication developments.
In fourth and fifth were Sultan Al-Kulaib for human development awareness, and Majid Al-Ghamdi for social media awareness.
Established in 2012 by royal decree, the Princess Seetah bint Abdulaziz Foundation for Excellence in Social Work encourages and supports community upliftment programs.
source/content: arabnews.com (headline edited)
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Fourteen Saudi individuals and two organizations are honored at the 10th Princess Seetah bint Abdulaziz awards for excellence in community upliftment work. (@seetahaward)
The festival includes 3 million items manufactured by more than 1,500 international brands.
The Outlet 2022 shopping festival, being organized by the General Entertainment Authority, has won Guinness World Records recognition as the largest pop-outlet center.
Covering an area of 146,623 square meters, festival activities started on Saturday in Riyadh. It includes 3 million items, manufactured by more than 1,500 international brands, and discounts of up to 70 percent on fashion, accessories, and cosmetic products designed by international experts.
Farah Ahmed, who lives in Al-Rehab neighborhood where the outlet is located, described it as “impressive,” while Mohammed Al-Bugami, a Saudi private-sector employee, praised the “top organization” he witnessed on the first day.
“I have no words to describe how great and well-organized this festival is. I would like to thank the organizers for their efforts in making this shopping festival a reality,” he said.
Entry to the festival is free and outlet sections include home accessories, leather-made items, bridal gowns, suitcases, and electronics.
The fashion section includes products by names such as Zara, Massimo Dutti, GAP, Ralph Lauren, Diesel, Lacoste, Roberto Cavalli, Versace, and Mango. Additionally, visitors can choose between various sports shoe brands, including Adidas, Puma, and Nike.
GEA chairman, Turki Al-Asheikh, thanked Kuwaiti actresses Hayat Al-Fahad and Suad Abdullah, and Saudi actor Bashir Al-Ghunaim for taking part in the official festival promo that gained millions of views.
The GEA aims to encourage private-sector organizations to develop entertainment activities in the Kingdom. It was established in line with Saudi Vision 2030 to organize and develop the entertainment sector in the country and provide options and entertainment opportunities for all segments of society.
source/content: arabnews.com (headline edited)
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The “Outlet 2022” shopping festival, being organized by the General Entertainment Authority (GEA), has won Guinness World Records recognition. (Supplied)
Saudi Arabia was elected to the membership of the Council of the International Civil Aviation Organization until 2025 during voting at the ICAO 41st general assembly in Montreal, Canada.
The Kingdom was re-elected after a voting process with the participation of 193 UN member states.
The council has 36 members, including the US, France, Singapore and the UK, “thus providing a voice to the Arab and Islamic countries,” the Saudi Press Agency reported on Saturday.
Saudi Minister of Transport and Logistics Saleh bin Nasser Al-Jasser praised the importance of the election for the Kingdom, saying: “Since the establishment of the first airline in 1945, the Kingdom has proven its commitment and tireless work toward the aviation sector, both domestically and internationally.”
He added that the Kingdom is now working in line with the vision of Crown Prince Mohammed bin Salman by consolidating its global leadership role in the sector.
Al-Jasser said that the election “represents a broad tribute to the tireless efforts being made by the Kingdom to be a center for air linkage between the three continents to achieve the objectives of the national strategy for transport and logistics services.”
source/content: arabnews.com (headline edited)
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Saudi Minister of Transport and Logistics Saleh Al-Jasser attends 41st International Civil Aviation Organization General Assembly in Canada. (SPA)
Saudi engineer Mishaal Ashemimry is the newly elected vice president of the International Astronautical Federation, becoming the first Saudi woman to hold the position after receiving 14 majority votes from international representatives.
Her role as one of the federation’s 12 vice presidents enables her to further the development of the space sector globally and consolidate the direction of the IAF.
As a Saudi woman and the first aerospace engineer in the Gulf Cooperation Council, her position strategically places the Kingdom at the forefront of the industry and highlights the country as a global leader in the field.
Since September 2021, Ashemimry has served as special advisor to the CEO of the Saudi Space Commission Mohammed Al-Tamimi, a position in which she consults on developing a national space strategy, creates and leads space programs, and advises leadership on direction and execution.
Ashemimry was previously a space nuclear technology consultant at the aerospace and defense company Northrop Grumman. She also conducted research funded by the NASA Marshall Space Flight Center during her time as a research assistant at the Florida Institute of Technology
At 26 years old, the engineer was also president and CEO of her own aerospace company, MISHAAL Aerospace, established in 2010.
The company developed space rockets, designed and launched its own line of cost-effective rockets titled the “M-rocket” series, completed static tests for hybrid rocket propulsion systems and provided global consultation.
In 2015, Ashemimry won the Inspirational Woman of the Year Award at the Arab Women Awards and in 2018 was awarded for her scientific achievements by King Salman.
She received her bachelor’s degree in applied mathematics and aerospace engineering in 2006 and her master’s degree in aerospace engineering in 2007, both from the Florida Institute of technology.
She is a certified Nitrox, rescue and open water diver, a commercial pilot and is trained in real space flight conditions of zero-gravity.
Ashemimry is an expert in aerodynamics, missile and rocket stage separation analysis, vehicle design, wind tunnel testing, simulations and analysis, and computational tool development.
Dr. Abdulaziz bin Mohammed Alsubayel, chairman of the board of trustees of the King Abdulaziz Center for National Dialogue and secretary general of the King Faisal International Prize, has won the cultural pioneer award during the Ministry of Culture’s second session of the “National Cultural Awards.”
He received the prize in recognition of his distinguished literary and cultural career, as well as his roles in cultural administration, where he held a number of leadership and academic positions while serving Saudi culture, intellectuals and literature.
The event was held under the patronage of Saudi Crown Prince Mohammed bin Salman.
A global prize, called the “international cultural excellence award,” will be launched in the next session of the event, organizers announced. The award will recognize and celebrate global and regional cultural personalities and institutions that enrich the cultural landscape, and reaffirms the Kingdom’s determination to open new avenues for cultural creativity and expression and encourage cultural dialogue with the world.
Deputy Culture Minister Hamed bin Mohammed Fayez said in a speech delivered on behalf of Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan: “I am delighted to welcome you to the Capital of Culture, the Beacon of Knowledge, and the Oasis of Art in a cultural event in which we celebrate the creative personalities, with the support of the Custodian of the Two Holy Mosques and the patronage of His Highness the Crown Prince, who is supportive of our culture and the champion supporter of it.
“The historical depth and civilization of our homeland and the creativity of our people have put the Kingdom in an advanced cultural place, which enabled the Ministry of Culture to highlight our creative treasures as per the Vision 2030,” he said.
Fayez said: “The National Cultural Awards initiative was an inspiration for creators and an essential pillar for further advancement of cultural and cognitive development.”
Cultural sector award recipients were also recognized.
Kifah Bu Ali won first place in the literature prize while Jarir Bookstore won the publishing award. Shareef Bogona, a translator and poet, won the translation award while Samira Alotaibi won the fashion award. Ahmed Alneghaither, a researcher in drawings and engravings, won the national heritage award and Abdulsamad Alhawsawi won the culinary art award.
Badr Al-Hamoud, a writer and filmmaker, received the “youth cultural” award for his efforts in the film industry, publishing initiatives, translation and technical projects. He founded the Center Menaverse for Innovation and Development, the world’s first center to interactively disseminate cultural products, and has established a platform called “Meaning” to spread knowledge, artistic and philosophical content. He managed the translation projects of 30 books in philosophy and humanities.]
Kifah Bu Ali won first place in the literature prize while Jarir Bookstore won the publishing award. Shareef Bogona, a translator and poet, won the translation award while Samira Alotaibi won the fashion award. Ahmed Alneghaither, a researcher in drawings and engravings, won the national heritage award and AbdulsamadAlhawsawi won the culinary art award.
Artist Muhannad Shonu won the visual arts award while Ali Khobrani won the theater and performing arts award. Bandar Bin-Obaid won the music award while Faisal Battoyoor won the film award and Muhammed Shafea won the architecture and design award.
The Diriyah Gate Development Authority won the cultural institutions award in the state sector while the Misk Institute of Art won the cultural institutions award in the non-profit sector. The Music Home School of Art won the cultural institutions award in the private sector.
Ahmed Qirran Al-Zahrani, deputy dean of communications and information for graduate studies and academic research at King Abdulaziz University, told Arab News that nations founded on cultural legacy were able to elevate their homelands to the forefront of the cultural landscape around the world.
Cultural symbols deserved to be honored and acknowledged for their contributions to the nation, as well as to preserve cultural memory and encourage future generations to follow in their footsteps, he said.
Al-Zahrani said that the Ministry of Culture had a significant obligation to revitalize heritage, assist the cultural movement and financially and morally encourage intellectuals.
The cultural movement was evident in domestic cultural activities such as organizing book fairs, holding cultural festivals, holding conferences, supporting cultural institutions, honoring intellectuals, participating in outdoor cultural events and supporting intellectuals individually participating in festivals, meetings and outdoor exhibitions to represent and communicate local culture beyond geographical boundaries.
Abdulaziz Al-Kheshaiban, chairman of the board of the Media and Public Relations Society in Onaizah, said that recognizing local cultural symbols was connected with recognizing cultural pioneers, creators and achievers.
He said that the cultural movement was witnessing a diversity of platforms, and that official literary clubs, private literary meeting places and cultural cafes were the most important of these.
Al-Kheshaiban said that education and knowledge were important in the evolution and progress of cultures.
source/content: arabnews.com (headline edited)
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The National Cultural Awards ceremony was held under the patronage of Crown Prince Mohammed bin Salman. (SPA)
Following the launch of Saudi Arabia’s Vision 2030 in 2016, the Kingdom is on its way to becoming the world’s biggest construction site with a total investment of SR4.13 trillion ($1.1 trillion) in infrastructure and real estate projects, according to global real estate consultancy Knight Frank.
The real estate firm projected that Riyadh’s population will reach 17 million by 2030, up from about 7.5 million today. The city has unveiled real estate projects worth $104 billion since the Kingdom’s National Transformation Plan launch in 2016.
“Vision 2030 has lit the embers of excitement across the Kingdom, and with NEOM positioned as a crown jewel in the transformative plans, people are eager to be part of history,” Faisal Durrani, partner and head of Middle East research, Knight Frank told Arab News.
Saudi Arabia will easily become the largest construction site in history, with planned construction projects in the Kingdom being over 555,000 residential units, over 275,000 hotel keys, over 4.3 million square meters of retail space, and over 6.1 million square meters of office space, Durrani said.
The consultancy firm is currently monitoring 15 giga-projects in the Kingdom, many of them new standalone supercities, said Harmen de Jong, partner and head of real estate, Strategy& Consulting in the Kingdom.
NEOM is expected to house 9 million residents across 300,000 new homes once completed, making it the largest giga-project announced to date, Jong added.
Among 1,000 Saudi households surveyed, Diriyah Gate came third in popularity as a place to own a home, behind NEOM and The Red Sea Project.
NEOM is radically redefining urban living in resource-poor regions, Durrani said. At the same time, sub-cities like the Octagon, Trojena and the Line will set new benchmarks for luxury living in the area.
Around 30 percent of Saudi homeowners are prepared to spend more than $800,000 on a second home at NEOM. “Developers have their work cut out to satisfy this pent-up demand,” Durrani added.
De Jong said that the construction progress of part of the projects stands at 29 percent, with only $7.5 billion of subprojects being commissioned.
Riyadh’s rebirth
Another head-turning giga-project is the $20 billion Diriyah Gate which will give Riyadh 20,000 homes when it is completed in 2027, creating a city-sized historic district.
Knight Frank estimated that about $2.3 billion had been spent on Diriyah Gate’s construction.
“Not to be outdone, Riyadh’s repositioning as a commercial nerve center of the Kingdom is well underway. And businesses from the world over are already clamoring to be at the center of the Middle East’s second and much-needed global hub,” Durrani said.
Durrani added that the planned development of 2.8 million square meters of world-class office space could not come at a better time with Grade A office occupancy levels hovering around 97 percent across the city.
According to Knight Frank, an international airport worth $147 billion is also set to open shortly. Nearly 74 percent of the $200 billion national infrastructure investment goes toward the new airport.
“The city is also attracting a huge number of internal migrants, and with readily available support to get on the housing ladder, house prices are rising rapidly and currently stand some 26 percent higher than this time last year,” he said.
Well-being hub
The Kingdom is also improving and providing world-class urban environments for its residents with the $500 million Riyadh Sports Boulevard and the $23 billion Green Riyadh, planting 7.5 million trees in the Saudi capital to transform it into a green, vibrant metropolis.
It also extends to the 19,000 hospital beds planned for $13.8 billion, of which $8.6 billion will be spent in Riyadh Province alone.
According to de Jong, over 80 new educational institutions are being constructed for $82 billion.
“What’s more, healthcare, education and well-being sit at the core of the transformative plans, which will contribute to an extraordinary evolution in the Kingdom’s physical realm, making it unrecognizable from what we see today by the end of the decade,” Durrani said.
