Saudi Downtown Company (SDC) was launched Monday by Crown Prince Mohammed Bin Salman, chairman of the Public Investment Fund (PIF).

Throughout Saudi Arabia, the new company aims to build and develop downtown areas and mixed-use destinations.

Al-Madinah, Al-Khobar, Al-Ahsa, Buraidah, Najran, Jazan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal, and Tabuk are among the 12 cities.

By creating new business and investment opportunities in key economic sectors, such as retail, tourism, entertainment, and housing, the company aims to improve infrastructure and build strategic partnerships with investors.

Using cutting-edge technology, SDC will develop more than 10 million square meters of land for all its projects, creating modern destinations inspired by Saudi Arabia's diverse local culture and traditional architectural motifs.

Thru SDC, PIF aims to increase trade and investment opportunities in various cities across Saudi Arabia, enhancing their attractiveness and enhancing their local economies.

Also, the projects will create new opportunities for the private sector and new jobs for local citizens, as well as localize knowledge and expertise to help entrepreneurs and companies grow.

It reflects the Crown Prince's vision to launch development projects in various regions of Saudi Arabia, highlighting how domestic cities contribute to the national economy.

With Vision 2030, the company's strategy aligns with PIF's efforts to unlock and enable the capabilities of promising sectors locally to diversify the economy and contribute to non-oil GDP growth.