Custodian of the Two Holy Mosques King Salman bin Abdulaziz will inaugurate on Wednesday al-Qiddiya project, the new entertainment, sports and cultural destination in Saudi Arabia, west of Riyadh.
The laying of the foundation stone will be attended by a host of local and international officials and major investors and representatives of the regional and international companies, marking the launch of the project's formal infrastructure.
The first phase of the 334 km project will be completed by 2022.
Visitors will have access to recreational and educational facilities across six designed clusters: Theme Parks; Wheels and Wings; Scenic and Animal Encounters; Water and Snow; Sports; Events, Culture and Education.
In a statement to Saudi Press Agency (SPA), Secretary General of the Foundation Council of Qiddiya Project of the Public Investment Fund (PIF) Fahd Tounsi said the inauguration of this vital project is a real translation of the aspirations of the Saudi leadership and its relentless efforts to develop mega projects.
He added that such projects contribute effectively to achieve many direct and indirect economic returns, and advance sustainable development for the benefit of Saudi Arabia in accordance with the sectors identified by Vision 2030.
"About two-thirds of the Kingdom's population is under the age of 35. There is a great need for Qiddiya Project to provide them with entertainment. The project will save about $30 billion, which Saudis spend on tourism and recreation abroad.”
“The saved funds will be used to develop the domestic economy and create new job opportunities for the Saudi youth," he was quoted by SPA.
Chief Executive of Qiddiya Michael Reininger stated: "We are delighted to be a key contributor to boost the Kingdom's economic development and investment, not only to the entertainment industry but also to projects that will develop the capabilities of the Saudi youth."
