RIYADH – Saudi Arabia’s King Salman bin Abdulaziz will be inaugurating theQiddiya Project today which is set to be the kingdom’s newestentertainment, sports and cultural destination.

The project will be built in al-Giddiya area, some 40 km west of SaudiArabia’s capital Riyadh. Qiddiya will be the largest and most importanttourist destination in the region, making Riyadh a tourist hotspot.

The ceremony of laying the foundation stone will be attended by a host oflocal and international officials and a number of decision-makers, majorinvestors and representatives of the regional and international companies,marking the launch of the project’s formal infrastructure. The first phasewill be completed by 2022.

Speaking on the project, Michael Reininger, Chief Executive of Qiddiya,said that “we are delighted to be a key contributor to boost the kingdom’seconomic development and investment, not only to the entertainment industrybut also to projects that will develop the capabilities the Saudi youngpeople.”

In a statement to Saudi Press Agency (SPA), Dr. Fahd bin Abdullah Tounsi,Secretary General of the Foundation Council of Qiddiya Project under thePublic Investment Fund (PIF) said that the inauguration of this vitalproject is a real translation of the aspirations of the wise leadership inthe kingdom.

It also shows its relentless efforts to develop mega projects that wouldcontribute effectively to achieve many direct and indirect economicreturns, and to advance sustainable development for the benefit of thehomeland and the citizen in accordance with the sectors identified by theKingdom Vision 2030, he added.

“About two-thirds of the kingdom’s population is under the age of 35. Thereis a great need for Qiddiya Project to provide them with entertainment. Theproject will save about $ 30 billion which will be used to develop thedomestic economy and create new job opportunities for the Saudi youths,” headded.