The Clap
Saudi Crown Prince Mohammed bin Salman launched the New Square Development company to develop the world’s largest modern downtown in the city of Riyadh, which will help create a better future for the Saudi capital, in line with Vision 2030’s goals.
What
The New Square project will apply sustainability standards in its designs and raise the level of quality of life by providing green spaces and walking paths, promoting health and sports concepts, and community activities.
So What
The launch of the New Square Development Company is in line with the PIF’s strategy, which seeks to support the potential of promising sectors, empower the private sector, and increase the volume of local content.
The project will also contribute to the non-oil domestic sector by around SAR 180 billion, in addition to creating 334,000 direct and indirect job opportunities.
Now What
New Square Development will build a cube icon to embody a global urban symbol for Riyadh.
It will also feature the latest innovative technologies and unique features that are the first of their kind as it will be one of the largest landmarks in the world.
