Population and Business Booms in Riyadh

Published January 17th, 2000 - 02:00 GMT

From population growth to the number of factories, Riyadh, the Saudi capital city, takes the title as the kingdom's leader, and in some cases comes close to the world leader. 

According to Al-Jazirah daily, a recent report conducted by the Riyadh City Supreme Planning authority revealed that the average annual income of a family living in this capital city is SR 180,000 ($48,000). The city's population growth rate is 8.1 percent, one of the world's most rapid. 

Furthermore, the population has grown by 300,000 since 1996 to 3.1 million and is projected to reach 4.4 million in 2002 and 6 million in 2007. 

The city has not only seen population growth but economic as well, with the most number of factories. The investment in these 861 plants totals SR 22.1 billion ($5.9 billion.) Additionally, 11 banks are located in the Riyadh with a combined SR 290 billion ($77.3 billion) asset value. There are also more than 50,000 associations and firms in the city. 

© 2000 Al Bawaba (www.albawaba.com)

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