Saudi mulls creation of economic cities near Jeddah, Riyadh airports

Published January 19th, 2016 - 12:00 GMT

The Council of Economic Affairs and Development has set up a committee comprising seven ministries and government departments to study the feasibility of establishing two economic cities within the boundaries of King Khaled International Airport (KKIA) in Riyadh and King Abdulaziz International Airport (KAIA) in Jeddah.

Quoting informed sources, business daily Al-Eqtisadiah said on Monday that the committee, chaired by Minister of Economy and Planning Adel Fakeih, is conducting the study in collaboration with Oliver Wyman, an international management consulting firm.

The committee will also consider linking the economic city at KKIA with King Abdullah Finance Center via the Riyadh metro or any other means of transport.

Work is currently underway to collect data about the urban planning of Riyadh and Jeddah, their current development projects, their future progress and the visualization of the Riyadh and Jeddah municipalities on the project.

Abdullatif Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), who is a committee member, said the economic cites will provide an internationally competitive atmosphere that will attract investments. “The two cities will also boost the wheel of economic development and reinforce the diversification of economy,” he said.

He said the two cities will create more job opportunities for the Saudi youth, promote added-value sectors and encourage innovation.

 


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