Saudi Arabia Adopts Smart City Strategy

General view of Riyadh, Saudi Arabia. (SPA)
General view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Adopts Smart City Strategy

General view of Riyadh, Saudi Arabia. (SPA)
General view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia has adopted a new strategy for smart cities, which aims to transform the municipal and residential sector services into smart services through digital technologies and the Internet of Things (IoT).

The strategy aims to enhance economic prosperity, environmental sustainability, and adequate government supervision.

The strategy was established with the participation of all the municipalities in the municipal sector. It was developed for each secretariat of its own, including a roadmap until 2030.

It identifies six goals that take into account the priorities and challenges of each region.

The Ministry of Municipal, Rural Affairs, and Housing stated that over 50 initiatives will be launched in nine sectors by 2030.

The initiatives include smart parking and systems to preserve the environment and waste disposal, housing and smart community management, land and asset management, urban landscape improvement, and urban planning.

The ministry stressed that through the strategy, it aims to achieve three main goals: improving the quality of life of citizens, achieving financial sustainability, and improving the quality of services.

Smart cities will create solutions to the complex challenges associated with development, namely sustainability, congestion, transportation, and energy use. It seeks to improve the quality of life for all members of society.



Gold Prices Hit Records Above $3,300/oz

FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo
FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo
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Gold Prices Hit Records Above $3,300/oz

FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo
FILE PHOTO: Gold bars are displayed at a gold jewelry shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma/File Photo

Gold prices pierced the $3,300 an ounce barrier to hit record highs as investors sought a refuge from the turbulence surrounding trade tensions between the United States and China.
Spot gold hit a record of $3,317.90 per ounce on Wednesday, resuming a rally based on US President Donald Trump's tariff policies, robust central bank buying and prospects of interest rate cuts by the Federal Reserve, Reuters reported.
"Gold is re-calibrating to reflect the current state of world affairs ... If the price is telling us something, then it’s a distinct warning bell," said independent analyst Ross Norman.
"High conviction buying that commenced about a year ago - likely unreported central bank buying - is being compounded by buying on price strength."
Bullion has gained around 26% so far this year, in a rise that has drawn comparisons with its 1980 rally during the Iranian Revolution, when prices shot up around 118% between November 1979 and January 1980.
Trump on Tuesday rolled out the latest of his tariff policies, ordering an investigation into potential new levies on all US critical minerals imports and other goods.
Gold is traditionally used to hedge against political turmoil.
"Some longer-term gold owners are taking profit at these fresh record highs, but new inflows are also running strong," said Adrian Ash, director of research at BullionVault.
Gold ETFs saw an inflow of 226.5 metric tons, worth $21.1 billion, in the first quarter of 2025, the largest amount since the first quarter of 2022, when markets were grappling with the consequences of Russia's invasion of Ukraine.
"ETF demand is the additional new component that had otherwise been missing and is certainly helping to fuel the rise," Norman added.
Gold has also gained from the lower dollar, near a three-year low, making bullion a more attractive investment for other currency holders.
"The next milestone for gold is $3,500. Expect that before too long," Norman added.
Central bank buying has further buoyed gold, with China's central bank adding to its reserves in March for the fifth straight month.
Gold posted 25 all-time highs this year, of which 13 are above the $3,000 level.