Riyadh to build world-class facilities to house workers

Updated 12 August 2013
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Riyadh to build world-class facilities to house workers

The Arriyadh Development Authority (ADA) has announced plans to set up world-class labor housing units in the capital city with advanced health and recreational facilities.
The announcement follows a joint meeting of authority and the executive committee for projects and planning, chaired by Riyadh Gov. Prince Khaled bin Bandar and attended by Deputy Gov. Prince Turki bin Abdullah bin Abdul Aziz.
At the outset of the meeting, the governor thanked Custodian of the Two Holy Mosques King Abdullah for approving the launch of Riyadh Metro as part of a $22.5 billion public transport project.
Prince Khaled inaugurated the 176-km metro project on Sunday night, awarding the contracts to three leading consortia led by US, Spanish and Italian firms.
The six-line network is aimed at easing chronic traffic congestion in Riyadh, a city of 6 million people.
The ADA did not give details of the newly planned labor camps but pointed out that it was aimed at reorganizing the city and improving services to citizens and residents.
The meeting approved the rules and regulations for constructing buildings along roads.


Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.