Visit the King Abdullah Financial District, an exciting new development near King Fahad Road in the Al Aqeeq area of Riyadh. This ever-growing financial hub is a buzzing place to do business or simply wander around and enjoy open spaces in the city.
International architecture firms were commissioned to design individual buildings in the district, such as the 380-meter PIF Tower.
A developing hub
Planned for completion in 2020, the district is designed to diversify Saudi Arabia’s oil-based economy and encourage direct foreign investments.
Upon completion, the area will be larger than Washington DC, and aims to lure financial and law firms, banks and the kingdom’s stock exchange and capital market authority.
The area will consist of 59 towers over 1.6 million square meters, 62,000 parking spaces and is expected to host around 50,000 residents. There will also be an automated monorail built for the area. The Educational Zone will consist of multi-university campus and two Research & Development parks. It’s designed to accommodate 18,000 students, and a 7,500 faculty and staff members.
With much of the work on the district already complete, visitors can marvel at the huge variety of skyscrapers. The Crystal Towers, which opened in 2017, house offices and retail while a skywalk connects the two buildings. When the district is complete, skywalks will connect 30 buildings in the district, with solar power helping to cool these elevated bridges and defend against the desert heat.
The industrial zone will cover more than 63 square kilometers, with land dedicated to industry and light manufacturing, which are identified as areas of growth for the Saudi economy. With opportunities in light industry, research and development, hospitality, education, services and office work, the Industrial Valley alone is expected to create a million jobs.
King Abdullah Port
The port area is estimated to cover 17 square kilometres, and will have facilities to handle dry bulk and cargo, with state-of-the-art cranes able to handle containers. This fast-growing port is a key part in connecting around 400 million people in the Middle East with goods.
Central business district
The central business district, which incorporates the Financial Island, will host 3.8 square kilometers of office space, hotels and mixed-use commercial space. This area is nearly complete and consists also of residential space, as well as lifestyle destinations such as cafes and cinemas, attracting plenty of locals and tourists to its friendly open spaces.
A visit to King Abdullah Financial District will be an eye-opening experience for business and leisure travelers alike. One cannot help but be impressed by the scale of the project or the spectacular architecture on display.