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Crown Prince Unveils Company that Will Develop Downtowns in Saudi Arabia

Crown Mohammed bin Salman announced the launch of Saudi Downtown Company (SDC) that will build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. (SPA)
Crown Mohammed bin Salman announced the launch of Saudi Downtown Company (SDC) that will build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. (SPA)
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Crown Prince Unveils Company that Will Develop Downtowns in Saudi Arabia

Crown Mohammed bin Salman announced the launch of Saudi Downtown Company (SDC) that will build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. (SPA)
Crown Mohammed bin Salman announced the launch of Saudi Downtown Company (SDC) that will build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. (SPA)

Prince Mohammed bin Salman, Crown Prince, and Chairman of the Public Investment Fund (PIF), announced the launch of Saudi Downtown Company (SDC) that will build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia.

The company will aim to improve the infrastructure and build strategic partnerships with the private sector and investors, by creating new business and investment opportunities in key economic sectors, including retail, tourism, entertainment, and housing.

The 12 cities include: Al-Madinah, Al-Khobar, Al-Ahsa, Buraidah, Najran, Jizan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal, and Tabuk.

SDC will develop over 10 million square meters of land across all projects, creating modern destinations drawn from Saudi Arabia’s diverse local culture and traditional architectural motifs, while using cutting-edge technology in every project.

By launching SDC, PIF aims to increase trade and investment opportunities in various cities across Saudi Arabia to enhance their attractiveness and create a positive impact in their local economies.

The projects will contribute to creating new opportunities for the private sector and new job opportunities for citizens, as well as localizing knowledge and expertise to help entrepreneurs and companies start and expand their businesses.

The launch of SDC reflects Crown Prince Mohammed’s vision to launch development projects in various regions of Saudi Arabia, highlighting the active role that domestic cities play in supporting the national economy.

The company’s strategy aligns with PIF’s efforts to unlock and enable the capabilities of promising sectors locally that can help drive the diversification of the economy and contribute to non-oil GDP growth, in line with the objectives of Vision 2030.

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Saudi Arabia Emphasizes Peaceful Cooperation to Achieve Global Security

Ambassador Abdul Mohsen bin Khothaila speaks during the Nuclear Non-Proliferation Treaty Review Conference. (Photo: Saudi Mission in Geneva)
Ambassador Abdul Mohsen bin Khothaila speaks during the Nuclear Non-Proliferation Treaty Review Conference. (Photo: Saudi Mission in Geneva)
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Saudi Arabia Emphasizes Peaceful Cooperation to Achieve Global Security

Ambassador Abdul Mohsen bin Khothaila speaks during the Nuclear Non-Proliferation Treaty Review Conference. (Photo: Saudi Mission in Geneva)
Ambassador Abdul Mohsen bin Khothaila speaks during the Nuclear Non-Proliferation Treaty Review Conference. (Photo: Saudi Mission in Geneva)

Saudi Arabia emphasized peaceful international cooperation as a means to achieve global prosperity, stability and security, stressing the importance of the Treaty on the Non-Proliferation of Nuclear Weapons and the necessity of its full implementation.

Ambassador Abdul Mohsen bin Khothaila, the Permanent Saudi Representative to the United Nations and international organizations in Geneva, participated in the second session of the Preparatory Committee for the Non-Proliferation Treaty (NPT) Review Conference.

The ambassador called for more effective international efforts to achieve the goals and universality of the NPT, urging non-party states to join the treaty and subject all their nuclear facilities to the comprehensive safeguards of the International Atomic Energy Agency (IAEA).

Affirming the right to the peaceful use of nuclear technology under Article 4 of the Treaty, he underlined the importance of adhering to the highest standards of transparency and reliability, calling on all parties to cooperate to promote peaceful use for the benefit of global development and well-being.

He stated that the responsibility for making the Middle East a nuclear-weapon-free zone lies with the international community, especially the sponsors of the 1995 resolution on the Middle East.

Bin Khothaila condemned the recent statements and threats made by a member of the Israeli government regarding the use of nuclear weapons against the Palestinians, describing his words as violations of international law and a threat to global peace and security.

He further called for intensifying cooperation between the parties to the NPT to attain positive results at the next “review conference” in 2026, with the aim of achieving a safe world free of nuclear weapons.