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Riyadh’s Population Rise to 15 Million Helps Shift City towards Independent Economy

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Riyadh’s Population Rise to 15 Million Helps Shift City towards Independent Economy

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

Real estate experts said that Riyadh’s goal to increase its population by about 15 million people in 2030 will contribute to its transformation into a city with an independent and sustainable economy.

They added that the Riyadh Season, as well as major projects and government plans will accelerate the realization of the Saudi capital’s objectives by 2030.

According to the official announcement of the Royal Commission for the City of Riyadh, the region aims to reach 15 million people by 2030 thanks to attractive factors and capabilities that further strengthen the Kingdom's efforts to diversify its economic resources.

In remarks to Asharq Al-Awsat, writer and real estate expert Sami Abdulaziz said the latest statistics indicate that the capital is currently home to about 7.5 million people, adding that the average occupancy of residential units reaches seven individuals, thus the number of units required by 2030 is around 350,000.

The Ministry of Housing alone will provide about 300,000 housing units until the target date, he remarked, noting that developers, contracting companies, and investors in the sector will secure the remaining amount, which will contribute to increasing the availability real estate units, therefore leading to price stability.

Abdulaziz pointed to the importance of studying the rest of the market factors, including the number of units required during the next five years, their locations, the construction costs, the public facilities and services needed, the size of the private sector’s participation and others.

He also expected the Riyadh Season and the city’s major projects to become a major contributor to achieving the capital’s goal of reaching 15 million residents in 2030.

Real estate expert Eng. Ahmed Al-Faqih highlighted Riyadh’s status as one of the most developed cities in the Middle East, in addition to the great progress the city is witnessing simultaneously with Vision 2030.

Achieving the target of 15 million residents would transform Riyadh into a city with an independent economy, he added.

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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)

China announced Friday that it would expand visa-free entry to citizens of nine more countries as it seeks to boost tourism and business travel to help revive a sluggish economy.
Starting Nov. 30, travelers from Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan will be able to enter China for up to 30 days without a visa, Foreign Ministry spokesperson Lin Jian said.
That will bring to 38 the number of countries that have been granted visa-free access since last year. Only three countries had visa-free access previously, and theirs had been eliminated during the COVID-19 pandemic.
The permitted length of stay for visa-free entry is being increased from the previous 15 days, Lin said, and people participating in exchanges will be eligible for the first time. China has been pushing people-to-people exchange between students, academics and others to try to improve its sometimes strained relations with other countries, The Associated Press reported.
China strictly restricted entry during the pandemic and ended its restrictions much later than most other countries. It restored the previous visa-free access for citizens of Brunei and Singapore in July 2023, and then expanded visa-free entry to six more countries — France, Germany, Italy, the Netherlands, Spain and Malaysia — on Dec. 1 of last year.
The program has since been expanded in tranches. Some countries have announced visa-free entry for Chinese citizens, notably Thailand, which wants to bring back Chinese tourists.
For the three months from July through September this year, China recorded 8.2 million entries by foreigners, of which 4.9 million were visa-free, the official Xinhua News Agency said, quoting a Foreign Ministry consular official.