Riyadh: New square development project (New Square Development Company) to add beauty to the Saudi Arabian capital city. The world’s largest ‘downtown’ project was announced by Amir Mohammed bin Salman, the Crown Prince, Prime Minister and Chairman of the Board of Directors of New Square Development Company. The goal is to develop the capital city in accordance with the vision of ‘Vision 2030’. This includes provision of green spaces, footpaths, health care and sports facilities. The project will also include an innovative museum, a university specializing in technology and design, an integrated multi-use theater and more than 80 entertainment venues for live shows and entertainment.
The project is going to be implemented in an area of 2.5 million square meters in a radius of 19 square kilometers in the area where King Salman Road and King Khalid Road meet in the northwest of Riyadh. It will have the capacity to accommodate lakhs of residents. 104,000 housing units, 9,000 hotel and apartment units, 980,000 square meters of commercial space, 14 lakh square meters of office space, 620,000 square meters of entertainment, 18 lakh square meters of exercise and gathering space. The project will also include an outdoor recreation center. The new urban square project will offer a unique experience to live, work and play. There will also be facilities for domestic transport. You can reach here in 20 minutes from the airport.
‘Cube’ as the new symbol of the city
A new icon in the shape of a ‘cube’ will be made to mark the city of Riyadh on the global map. Cube will be built with innovative technology and unique features. It will have a height, width and length of 400 meters each. Once completed, it will be one of the largest landmarks in the world. The exterior of the cube will be decorated with a creative technical display board incorporating symbols of the ancient Riyadh, Najd. Constructed through digital and virtual technologies and the latest holographic imaging technologies, the cube will provide an extraordinary immersive experience. Fix the cube in the tower which is built in a unique and unique design. The multi-storey tower will house several brands, cultural landmarks, attractions for guests and visitors, hotel and residential units, business office spaces and entertainment facilities.
The new Square Development Company has been launched as part of the Public Investment Fund’s announced initiatives. The aim of the project is to diversify the sources of income of the country’s economy. Once completed, the project could contribute up to 180 billion riyals to the non-oil GDP. There will be 334,000 direct and indirect employment opportunities. The construction will be completed in 2030.