Saudi Downtown Company Created to Catalyze Central Business Development in Smaller Saudi Cities
Posted on 10/08/2022
In early October, Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) revealed the creation of the Saudi Downtown Company (SDC), which is part of the Public Investment Fund. The Saudi Downtown Company (SDC) aims to build and develop downtown areas and mixed-use destinations in 12 cities throughout Saudi Arabia. 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,” according to the Saudi Press Agency.
The Saudi Downtown Company is keen on building infrastructure to lure retail, tourism, entertainment, and housing.