Saudi Arabia's Giant Urban Park Planner Starts $1 Billion Fund.

The article focuses on the establishment of a $1 billion investment fund by the King Salman Park Foundation, aimed at developing one of the world's largest city parks in Riyadh, Saudi Arabia. The fund, created in partnership with domestic firms Ajdan Real Estate and SEDCO Capital, will support the construction of residential areas, hotels, and offices within the park, which is projected to cover an area five times larger than New York's Central Park. The project, initiated in 2019, is part of Saudi Arabia's broader strategy to enhance the quality of life in Riyadh and attract private investment to reduce government spending burdens. Completion of the park is anticipated by 2030, with ongoing efforts to engage both local and international partners for its development. [Extracted from the article]