Saudi Arabia has announced the launch of what will be the world’s largest cultural, sports and entertainment city located in Al Qidiya, southwest of Riyadh.
Built on area of 334 square kilometres, phase one of the project is set to launch in 2022 with the foundation stone to be laid by next year, according to Arab News.
The Public Investment Fund will be the project’s main investor along with a number of other local and international stakeholders.
Deputy Crown Prince Mohammed bin Salman, who is also the Chairman of the Board of Directors of the Public Investment Fund said the mega project will be “a prominent cultural landmark and an important centre for meeting the future generation’s recreational, cultural and social needs in the kingdom.”
The project, bin Salman said, will help support Saudi’s Vision 2030 development plan, acting as a contributing factor for the diversification of the kingdom’s economy away from oil-based sources of revenue while creating job opportunities for Saudi’s young population.
The new entertainment city will also include the $707m Six Flags theme park as one of its main attractions.