Ajlan bin Abdul Aziz Al-Ajlan, chairman of the board of directors of the Riyadh Chamber of Commerce

Ajlan bin Abdul Aziz Al-Ajlan
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Updated 23 June 2020

Ajlan bin Abdul Aziz Al-Ajlan, chairman of the board of directors of the Riyadh Chamber of Commerce

  • Al-Ajlan has over 40 years of experience in commercial, industrial, and investment work

Ajlan bin Abdul Aziz Al-Ajlan was recently reappointed the chairman of the board of directors of the Riyadh Chamber of Commerce.
He also has been the chairman of the Council of Saudi Chambers since February 2020.
Al-Ajlan is a prominent Saudi businessman who founded the Ajlan & Bros in 1979. He is the chairman of the business group, which is considered on the biggest in the Kingdom. Based in Riyadh, the group is one of the leading international corporations operating in the field of manufacturing classic menswear in the Gulf Cooperation Council region, in addition to ready-made and winter clothes.
The company has also considerable investments in the real estate sector in the Middle East, Europe, and Asia in addition to investments in the stock market in 25 countries.
He holds a bachelor’s degree in business administration and has attended several courses in economics, administration, corporate operation, and strategic planning.
Al-Ajlan has over 40 years of experience in commercial, industrial, and investment work. He is a board member of more than 65 companies in Saudi Arabia, Europe, the US, and China.
He is also a member of the Riyadh Regional Council. He has served as the head of the projects’ follow-up committee as well as the economic development committee at the council. He has managed and chaired several private sector development projects carried out in collaboration with different government agencies.


$800bn plan to turn Riyadh into cultural hub for the Middle East

Updated 9 min 45 sec ago

$800bn plan to turn Riyadh into cultural hub for the Middle East

  • Saudi capital’s planning chief unveils ambitious strategy ahead of G20 urban development summit

DUBAI: Saudi Arabia is launching a SR3 trillion ($800 billion) plan to double the size of Riyadh in the next decade and transform it into an economic, social and cultural hub for the region.

The ambitious strategy for the capital city was unveiled by Fahd Al-Rasheed, president of the Royal Commission for the City of Riyadh, ahead of key meetings of the U20, the arm of the G20 leaders’ summit that deals with urban development and strategy.

“Riyadh is already a very important economic engine for the Kingdom, and although it’s already very successful, the plan now, under Vision 2030, is to actually take that way further, to double the population to 15 million people,” he told Arab News.

“We’ve already launched 18 megaprojects in the city, worth over SR1 trillion, over $250 billion, to both improve livability and deliver much higher economic growth so we can create jobs and double the population in 10 years. It’s a significant plan and the whole city is working to make sure this happens.”

About $250 billion in investment is expected from the private sector, with the same amount generated by increased economic activity from population growth, finance and banking, cultural and desert tourism, and leisure events.

“We must also ensure the growth is managed properly, so there will be a focus on transport and logistics, including the Riyadh metro which will open at the beginning of next year. The aim is to increase productivity,” Al-Rasheed said.

The plan involves the creation of a “mega industrial zone” focusing on advanced technology such as renewables and automation, and biotechnology and aquaponics. Another key feature is sustainability, with energy conservation, the circular carbon economy with its emphasis on reducing emissions, and water management, all priorities.

“You will see 7 million trees planted in Riyadh in the next few years, and King Salman Park will be bigger than Hyde Park in London,” Al-Rasheed said.

HIGHLIGHTS

  • 18 megaprojects have already been launched worth over $250 billion.
  • 7 million trees planted in Riyadh in the next few years.
  • King Salman Park will be bigger than Hyde Park in London.

The city also aims to be a Middle East artistic and cultural hub. An opera house is being considered, as well as public art shows with 1,000 works commissioned from around the world. “We have not seen anything like it since Renaissance Florence,” Al-Rasheed said.

The plans will be discussed this week during online meetings of the U20 linking Riyadh with Houston. The Texas oil capital is suffering a new spike in coronavirus cases and pandemics will be on the agenda. “We want to deal with this one, but also be ready for the next one,” Al-Rasheed said.