Fahd bin Abd Al-Mohsen bin Saleh Al-Rasheed, CEO of the Royal Commission for Riyadh City (RCRC), announced on January 28th, 2021, that the Saudi government will invest $220 billion in projects to develop Riyadh over the next ten years.
The Saudi Crown Prince, Prince Mohammed bin Salman, had previously announced a plan to make Riyadh one of the ten largest cities in the world. This is part of his economic reform plans aimed at diversifying the kingdom’s economy instead of its current dependence on oil.
