Riyadh municipality unveils new investment opportunities across key sectors

24/03/2025 04:52 AST

Riyadh has unveiled new investment opportunities for 2025, covering commercial, residential, retail, industrial, and leisure projects to boost the city's economy and development.

The Riyadh municipality introduced 20 new investment prospects, covering more than 175,000 sq. meters across over 20 sites. These include mixed-use developments, existing retail spaces, mobile sports clubs, and areas allocated for concrete and construction material factories - along with a cafe and ATM setup.

Investors can access the projects through the Furas online platform, designed as the municipality's primary hub for real estate and municipal investment opportunities, the Saudi Press Agency reported.

The initiative is part of a broader strategy to accelerate private sector participation in urban development, aligning with Saudi Arabia's Vision 2030.

"This step comes as an extension of the Riyadh municipality's strategy to enhance the role of the private sector in urban development, by enabling it to participate effectively in developing facilities and services, and achieving integration between government and investment efforts to meet the needs of society," the SPA report stated.

"It also contributes to raising the quality of urban life and achieving the goals of the Kingdom's Vision 2030," it added.

Contracts for the investment sites range from five to 25 years, covering multiple districts across Riyadh. Key locations include Jarir, Al-Deerah, and Al-Rawdah, alongside Al-Basateen, Al-Qadisiyah, and Al-Jazirah.

Additional areas feature Al-Hamra, Al-Morouj, and Al-Yamamah, as well as Eastern Suwaidi, Al-Masha'il, Al-Manakh, Badr, and Taybah.

Investors are invited to review competition requirements and the application process via a dedicated link, with the envelope opening set for May 2025.

In a parallel push to enhance the capital's livability, 87 new parks were inaugurated over the last three years - raising the city's total to over 700, up from 615. The parks cover more than 745,000 sq. meters, featuring nearly 25,000 shrubs and 7,000 trees planted across different districts to ensure equitable access to green spaces.

The parks now serve as dynamic community hubs, hosting cultural, social, entertainment, and sporting activities. The move underscores Riyadh Municipality's commitment to improving quality of life, fostering social cohesion, and advancing Vision 2030's urban sustainability goals.

With these investments and infrastructure developments, Riyadh is positioning itself as a leading model for vibrant, sustainable urban growth in the region.

Arab News