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Business

Saudi Arabia Constructs Visionary Future: Billions in Riyals to Bring Sci-Fi Dreams to Life in Taif

Saudi Arabia Constructs Visionary Future: Billions in Riyals to Bring Sci-Fi Dreams to Life in Taif
Web Desk
November 9, 2023

In a bold move, Saudi Arabia has announced plans for a “Science Fiction Space City” in Taif. The initial phase is backed by an investment of 5 billion Riyals ($1.3 billion), with the potential to reach over 20 billion Riyals as the project reaches completion. This initiative is part of a broader vision unveiled at the “Taif Investment Forum.”
Saudi Arabia Constructs Visionary Future: Billions in Riyals to Bring Sci-Fi Dreams to Life in Taif

🔘 During this forum, investment contracts worth more than 11 billion Riyals ($2.9 billion) were signed. These agreements mark the beginning of various industrial, tourism, and scientific endeavors, including developing a city inspired by the vast expanse of space and, more specifically, the planet Mars.

🔘 The array of projects includes:
✔️ A 2 billion Riyal emergency information center in partnership with “China Mobile.”
✔️ A 600 million Riyal addition to the plastic industry aimed at transforming post-use plastics within a year.
✔️ The development of 5 luxury five-star tourist resorts, alongside other municipal projects worth over 1 billion Riyals.
✔️ An innovative venture with an Indian company to produce a cooling agent for computers, targeting an 80% reduction in energy consumption for cooling.

🔘 These strategic investments signify Saudi Arabia’s dedication to advancing its industrial, tourism, and tech sectors, showcasing the nation’s visionary approach to fostering foreign investment and economic diversification.

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Business
November 9, 2023
Web Desk @KhaleejMag

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