Saudi Downtown Company unveiled

The Saudi Arabian government has launched a new organisation that will design and develop downtown areas, initially focusing on 12 cities.

The Saudi Downtown Company (SDC) will help create mixed-use destinations in the cities across the kingdom, with an objective to improve infrastructure and build strategic partnerships with the private sector by creating new investment opportunities.

As part of the SDC’s remit, the developments will be targeted to support key economic sectors, such as retail, tourism, entertainment and housing.

The SDC will be wholly owned by Saudi Arabia’s Public Investment Fund.