The master plan of the mega Qiddiya project is expected to be finalized by the end of first quarter, Thomson Reuters Projects reported, citing Qiddiya Investment Company CEO Michael Reininger.
“This year will be about increasing our workforce to ensure we have the right people on board to help us create this unique city, as well as beginning the construction,” he noted.
The first phase of the entertainment project, located 40 kilometers away from downtown Riyadh, is expected to open in 2022.
The company will open its visitor experience center (VEC) in the second quarter, which will “give a taste of what to expect at Qiddiya on the opening day and beyond,” Reininger added.
Meanwhile, the CEO expects the project will offer “huge opportunities” local and international investors and developers, as it “sits at the center of an enormous, untapped market” as the Kingdom has a young population, 58 percent of which is under the age of 35.
“There is nothing like Qiddiya in the whole country, perhaps in the region, so there’s no significant competition currently for what we will offer,” he noted.
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