The project will b"/>

Saudi Arabia's King Salman will patronize the launch of the Qiddiya Project

Jeddah:Saudi Arabia's King Salman will patronize on Wednesday the launch of the "Qiddiya" Project which is the new entertainment, sports and cultural destination in the Kingdom.
The project will be built in Al-Giddiya area, some 40 km west of the capital, Riyadh.
The foundation stone ceremony of will be attended by a host of local and international officials, as well as a number of decision-makers, major investors and representatives of the regional and international companies, marking the launch of the project's formal infrastructure. The first phase will be completed by 2022. In a statement to Saudi Press Agency (SPA), Dr. Fahd bin Abdullah Tounsi, Secretary General of the Foundation Council of the Qiddiya Project of the Public Investment Fund (PIF) said that the inauguration of this vital project is a real translation of the aspirations of the Kingdom's wise leadership and its relentless efforts to develop mega projects that would contribute effectively to achieve many direct and indirect economic returns, and to advance sustainable development for the benefit of the homeland and the citizen, in accordance with the Kingdom's Vision 2030.
"About two-thirds of the Kingdom's population is under the age of 35. There is a great need for Qiddiya Project to provide them with entertainment. The project will save about $30 billion, which will be used to develop the domestic economy and create new job opportunities for Saudi youths," he added.
For his part, Michael Reininger, Chief Executive of Qiddiya, said, "we are delighted to be a key contributor to boost the Kingdom's economic development and investment, not only for the entertainment industry but also to projects that will develop the capabilities the young Saudi people." Agencies
Source: Agencies


  
  

Comments


No comments yet! Be the first one to leave a comment.


Add Comment

Name:
Email:
Comment:

More World News


Somali leader urges calm after clashes in disputed north ..


KSA, Vatican playing major role in defeating extremism: Interfaith off ..

- Malaysia's ex-leader Najib Razak questioned again in corruption scandal
- Despite deal, Syrian forces fighting to finish rebels
- Could Saudi Arabia become the China of the Middle East?
- Israel launches new air raid on Hamas in Gaza
- Bangladesh court orders release of opposition leader Zia
- Rouhani says Iran will fiercely resist US pressure to limit its influence
- Macron reiterates need to keep Iran nuclear deal
- Market changes prompt Gulf State oil firms to explore new business models
- Myanmar military assures UN of 'harsh' action on sexual assault
- Drill bit manufacturer sets standards in Saudization
- Chennai Super Kings look to continue domination against struggling Mumbai Indian
- US builds drone base in Niger, crossroads of extremism fight
- Hamas fighter killed in Israel airstrike in Gaza strip
- Challenges ahead as KSA looks to long-term OPEC-Russia oil deal
- Saudi Arabia to join FTSE Russell index from March 2019
- Jewish candidate for Muslim party breaks barriers in Tunisia
- China calls US repeat abuser of world trade rules
- Saudis going vegan, often to avoid obesity
- Ethiopian-Israelis decry family separation as discriminatory
- US school shooting calls released, as a gun-control bill sits on governor's desk

Related News

King Salman to patronize first humanitarian forum in Riyadh
Riyadh:The inaugural Riyadh International Humanitarian Forum, sponsored by the King Salman Humanitarian Aid and Relief Center (KSR .. read more
Madinah conference center to be named after King Salman
RIYADH: Custodian of the Two Holy Mosques King Salman has approved naming the project of International Center for Conference being .. read more
King Salman turns new page on ties with Russia
Jeddah:A new page will be turned in relations between Saudi Arabia and Russia on Thursday when King Salman arrives in Moscow for a .. read more
King Salman doubles Yemen aid pledge to $540m
Riyadh - The Custodian of Two Holy Mosques, King Salman bin Abdulaziz Al Saud, doubled Saudi Arabia's aid commitment to Yemen to .. read more
Saudi Arabia, Egypt agree to boost parliamentary friendship committee
Riyadh:Saudi Arabia and Egypt have agreed to develop the role of the Saudi-Egyptian Parliamentary Friendship Committee via more mu .. read more

More Related News

- Trump, May condemn Houthi missile attack against Riyadh in call with King Salman
- King: SR1m for family of each crane victim
- Tweets praise upholding death penalty on royal family member
- 1.27m expat jobs for 'willing' Saudis
- We understand the true meaning of pride, respect for our founder's efforts: Saudi Interior minister

More Latest News:

- Om Mitharval, Jitu Rai off the mark at Munich World Cup
- NBA Playoffs: LeBron James scores 46 as Cavaliers force Game 7 in Boston
- Somali leader urges calm after clashes in disputed north
- KSA, Vatican playing major role in defeating extremism: Interfaith official
- Powerful Cyclone Mekunu leaves at least 3 dead, 40 missing in Oman and Yemen
- CM Palaniswami defends police firing, says natural course against attack
- After PM Modi accepts fitness challenge, Rahul Gandhi throws another at him: 'Reduce fuel prices or face nationwide agitation'
- Shashi Tharoor tells Congress not to be embarrassed by cash crunch, suggests how to take on BJP's 'moneybags'
- Fissures in MP Congress unit ahead of party president Rahul Gandhi's visit
- Nipah virus claims one more life in Kerala, death toll rises to 12
- J&K: Lull in border firing after nine days
- KTR directs HMWSSB to complete road restoration works by June 15
- Schools in Telangana to reopen on June 1
- KTR calls for cooperation between public and private health care sector
- Delay in desiltation works worrying GHMC corporators
- Telangana to fill vacant posts in NIMS
- Hyderabad-based UDo will answer all your queries
- Telangana to launch e-mobility policy in June, says Jayesh
- Andres Iniesta signs with Japan's Vissel Kobe
- While Neymar continues recovery, Douglas Costa picks up injury
- Russians to take no part in World Cup drug testing: FIFA
- Race 3: Salman Khan turns lyricist for song Selfish. Here's how
- Aamir Khan on his earlier films: I was constantly swimming against the tide
- Malaysia's ex-leader Najib Razak questioned again in corruption scandal
- Thailand arrests senior monks in temple raids to clean up Buddhism
This page was created in 0.0335619449615 seconds