Saudi Public Investment Fund projects: Qiddiya and Al-Ula
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Saudi Public Investment Fund projects: Qiddiya and Al-Ula
The Qiddiya project is an entertainment project, and it is one of the tourism projects that the Kingdom of Saudi Arabia is laying the foundations for, implementing Vision 2030.
Vision 2030 aims to make the Kingdom of Saudi Arabia a tourist destination,
to diversify the Kingdom’s economic resources, and to reduce its dependence on oil.
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The project Location
The Qiddiya project is located about 40 kilometers from the heart of the capital (Riyadh),
near King Khalid International Airport in Riyadh.
The Qiddiya project occupies a strategic location in the Riyadh region, with an area of 334 square kilometers.
A safari area will be designated for a future expansion of the project
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Project features
The Qiddiya project provides world-class entertainment services that include parks and theme parks,
adventure and thrill activities, a sports city, and cultural activities.
The project provides wider fields and horizons for lovers of hiking, safari trips and lovers of landscapes,
outdoor activities, and support for motorsport enthusiasts to practice their favorite hobbies in a useful and safe manner with high international standards.
It offers a variety of services and offers that suit all segments of society and the vision of the project is to become the first entertainment destination in the Kingdom,
and to be a center for activities, discovery and participation to change the concept of entertainment in the Kingdom and to provide entertainment means that suit all segments of society.
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The role of the Public Investment Fund in the project
The Qudiya project is one of the initiatives of the Public Investment Fund for investment in the Kingdom,
and aims to contribute to increasing the size of the assets of the Public Investment Fund and strengthening its role as one of the engines of economic growth in the Kingdom.
The Qiddiya project confirms the Public Investment Fund’s orientation towards investing in white lands in establishing quality economic projects that serve the country and the citizen,
and achieve valuable economic and social benefits in order to reach the aspirations of the society in terms of progress and paper.
The Public Investment Fund plays a fundamental role in securing the necessary financing in the early stages of the project,
especially in terms of financing the infrastructure and the project as a whole, pending attracting the necessary investments.
The fund also provides support to the project by adopting appropriate financial and organizational incentives to increase the investment attractiveness of the project.
2. Al-Ula Project
The Kingdom of Saudi Arabia launched a vision for Al-Ula in February 2019,
as part of a set of developmental development projects that make Al-Ula a global cultural interface.
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The project Location
A project to develop the archaeological area of Al-Ula, which covers about “22,500” square kilometers,
was signed in Al-Madinah Al-Munawwarah region on the Red Sea coast.
The project is known as “Al Sharaan Nature Reserve”, and “Jean Nouvel”,
the architect in charge of supervising the project, aims to honor and show the beauty of the landscapes surrounding the area.
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Project features and objectives
The project’s goals are in line with the goals of Vision 2030,
which contribute to adding 120 billion riyals to the Kingdom’s GDP by 2035.
The project aims to attract 2 million visitors through mega tourism projects that are part of a series of major strategic projects.
The Royal Commission for Preservation works to develop Al-Ula in a responsible manner with the aim of transforming it into a global destination for heritage,
while preserving the natural and cultural heritage in the region in cooperation with the local community and a team of international experts.
This area is famous for its archaeological sites such as “Mada’in Saleh,” a city that is about 2000 years old and dates back to the era of the “Nabateans”.
The area is built in desert rocks in the north of the kingdom and has been excavated by French archaeologists for more than 15 years.
In this area there are Roman camps, rock engravings, Islamic heritage sites,
and remnants of the Hejaz railway line, which dates back to the Ottoman era and stretched from Damascus to Medina in the early twentieth century.
The design of the project is inspired by the Nabataean architecture that characterizes the site of Al-Ula and its historical position.
Nouvel sought to restore the distinctive architectural style of Al-Ula for the first time since the Nabataeans carved it in the Sharaan sand rocks of millions of years old.
Architecture and art helped frame landscapes in Sharaan at different heights, and due to contradictions in nature and geography,
this contributed to the discovery of distant horizons and the different qualities of light.
Nouvel has also designed a luxury resort in the middle of a valley in the Al Ula region, with 40 suites dedicated to guests,
along with 3 villas and a conference center with 14 leisure suites.
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