Talaat Moustafa Group to Purchase Land for Banan City in KSA
The Saudi Talaat Moustafa Group for Real Estate Development, a subsidiary of the Talaat Moustafa Holding Group, has signed the final agreement to purchase land for the “Banan City” project, reported CNBC Arabia. It includes the development of a smart residential city in the eastern region of Riyadh, with an investment cost of 31.4 billion Saudi riyals.
Smart Cities in KSA
In 2023, the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Haqil, announced the inclusion of four Saudi cities in the Smart Cities Index.
The ministry aims to rank at least 10 Saudi cities among the top 50 global cities. This ambition is driven by governance, sustainability, and resident engagement to fulfill their aspirations and enhance their welfare.
Vision for Future Municipalities
During his speech at the Global Forum for Smart Cities, hosted by the Saudi Data and Artificial Intelligence Authority (SDAIA) in Riyadh from February 12 to 13, 2024, Al-Haqil shared insights. He emphasized the Kingdom’s journey of innovation and collaboration, inspired by the Crown Prince’s Vision 2030.
This vision leverages national capabilities to positively impact the entire region and elevate urban and housing systems through unique experiences and models.
Smart Cities: Beyond Technology
Al-Haqil highlighted that smart cities transcend technological urban areas. They require ecosystems integrating municipal services, transportation, education, health, tourism, and more. This approach aims to improve residents’ life quality significantly.
Strategy for Urban Growth
The Kingdom’s Vision 2030 sets the trajectory for this transformation. Strategies focus on portraying cities as vibrant, sustainable development and technology centers. The goal is for residents to live fulfilling lives, enhancing achievement and well-being.
Related Topics :
Saudi Arabia to Host Global Smart City Forum
KAUST Makes New Scientific Leap: Air Cooling without Electricity
ALEC to Establish Center in Mohammed bin Salman Nonprofit City
