The Avenues-Riyadh is first private sector project to improve quality of life: Al-Falih

Minister of Investment Khalid Al-Falih

The Avenues - Riyadh project is the private sector’s first project to enhance the quality of life, Al-Ekhbariya TV reported, citing Saudi Minister of Investment Khalid Al-Falih. 

He also expected Riyadh to come among the world’s top 10 tourist destinations, as well as a hub for doing business, living and housing, thanks to several strategies aimed at improving the quality of life and the National Investment Strategy.  

Al-Falih indicated that the qualitative project came in line with the Riyadh Regional Plan, which will be unveiled soon by the Royal Commission for Riyadh City (RCRC), to address various development issues in the Riyadh region based on a futuristic vision for the next 20 years.

The project will leverage the mega projects launched by the Public Investment Fund (PIF), including Qiddiya, Diriyah Gate Project, King Salman Park, in addition to the ROSHN residential developments.

Mabanee Co.’s 60%-owned subsidiary, Shomoul Holding Co., laid the foundation stone for the construction of The Avenues-Riyadh project on Feb. 6, Argaam reported.