JEDDAH, 16 April 2007 — Custodian of the Two Holy Mosques King Abdullah will launch a number of new welfare and development projects worth SR118.4 billion in Riyadh tomorrow. The projects include the King Abdullah Financial District (KAFD), the Al-Rajhi Towers, and the Women’s University. The KAFD will serve as the headquarters of the Capital Market Authority (CMA), the Stock Exchange (Tadawul) and the Commodity Market.
The KAFD will have a financial academy and recreational facilities and will include offices, hotels, a conference center, shops and sports arenas. At the center of the KAFD will be a modernized concept of a wadi — a central waterway, around which will be established an attractive working ambience.
Other major projects to be launched tomorrow include the building materials market Bina, Ras Al-Zour desal plant, a water distribution network in Houtat Bani Tameem, 10 electricity power generation plants, 1,095 educational and college projects in Al-Kharj, Shaqra, Majmaa and Zulfi, and expansion of the King Abdul Aziz University Hospital and the King Khaled University Hospital.
