RIYADH: Cityscape Global continued its momentum on the third day of the exhibition in Riyadh, with multiple agreements signed to advance urban development and improve quality of life across Saudi Arabia.
The four-day event, which opened on Nov. 17, has already seen real estate agreements surpass SR161.2 billion ($42.3 billion), underscoring the rapid growth of the property market in the Kingdom.
Developing a strong real estate infrastructure is central to the Kingdom’s efforts to position itself as a business and tourism hub while reducing reliance on crude revenues.
Localizing jobs
During the event, the Ministry of Municipalities and Housing signed a memorandum of understanding with Al-Othaim Investment Co. to increase the participation of Saudi youth in the labor market, the Saudi Press Agency reported.
The agreement aims to expand youth engagement through training, employment and entrepreneurship initiatives across fields supervised by the municipal sector.
Under the deal, Al-Othaim Investment Co. will provide suitable job opportunities for Saudi nationals based on its operational needs. The company will also work with the ministry to identify required specializations and job models, helping build an integrated national database to attract qualified Saudi talent.
“This MoU comes as part of the efforts of the Ministry of Municipalities and Housing to support the goals of the Kingdom’s Vision 2030 and the National Transformation Program in developing human capabilities,” added SPA.
Privatization of excavation control
The Al-Jouf Region Municipality signed a contract with TUV Rheinland Arabia Ltd. to privatize excavation control and address construction violations.
The contract, valued at SR9.92 million, is part of the municipality’s efforts to improve its regulatory system and enhance the quality of urban infrastructure in the region.
Al-Jouf Municipality is targeting nearly 1000 investment opportunities at the exhibition, which include parks, infrastructure, services, and entertainment, to improve the quality of life and promote an attractive and sustainable urban environment.
Beautifying Masar destination
Holy Makkah Municipality signed a community partnership agreement with Umm Al Qura for Development and Construction Co. to develop and beautify the intersection of Prince Mohammed bin Salman Road, the entrance to Masar destination.
The project aims to develop the Western Gate of Makkah and Masaar Destination to be an attractive open urban space that enriches the experience of visitors and residents, with a focus on increasing the green area, improving air quality, and supporting the goals of the Saudi Green Initiative.
“Holy Makkah Municipality stressed that the signing of this agreement reflects its keenness to empower the private sector as a key partner in advancing sustainable development and enhancing its contribution to improving the urban landscape, reflecting the spirit of integration between the public and private sectors,” said SPA.
