The Saudi crown prince and head of the investment fund, Prince Mohammed bin Salman, has announced the creation of downtowns in the country.
According to Arab media from Riyadh, Saudi Downtown Company will be established to build multi-purpose settlements in big cities.
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According to Arab media, the Downtown Company will establish new infrastructure in 12 major cities with the participation of the private sector.
Downtown settlements will provide new investment opportunities in business, tourism, recreation and settlement.
More than one crore square meters area will be developed on modern lines in major cities including Medina.
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