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Is there any known project for that huge land in front of KAFD, located between King Fahd Road and Olaya Street ?

A huge and modern residential/hotels complex would fit perfectly in that area. It is a Premium location within a walking distance to the KAFD and 3 different metro lines.
 

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Is there any known project for that huge land in front of KAFD, located between King Fahd Road and Olaya Street ?

A huge and modern residential/hotels complex would fit perfectly in that area. It is a Premium location within a walking distance to the KAFD and 3 different metro lines.
The plot was owned by Alrajhi, the owner of Alrajhi Banks. It was on auction last year I don't know who bought it now.

But here is an old proposal https://www.youtube.com/watch?v=ZEgivZJvim8

I have also seen a proposal that wants to recreate New York City's Central Park.
 

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خبر مهم

الارض المقابله للمركز المالي انباعت اليوم لصندوق الاستثمارات العامة بمبلق فوق الملياريين.

عساهم يهتمون فيها وييبنون منتزه على مستوي عالمي .مثل السنترال بارك حتى لو فيه ابراج مايمنع
 

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خبر مهم

الارض المقابله للمركز المالي انباعت اليوم لصندوق الاستثمارات العامة بمبلق فوق الملياريين.

عساهم يهتمون فيها وييبنون منتزه على مستوي عالمي .مثل السنترال بارك حتى لو فيه ابراج مايمنع
أشتراها الصندوق بسعر مقبول: 5,000 ريال للمتر المربع. الأراضي هناك كانت ضعف دا السعر قبل 3 سنين.
 

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Saudi fund PIF purchases $578.6 mln land plot in northern Riyadh

RIYADH, Oct 7 (Reuters) - Saudi Arabia’s sovereign wealth fund has purchased a huge plot of land in northern Riyadh for 2.17 billion riyals ($578.64 million) in what the auction operator and Saudi media described as the largest real estate transaction in the kingdom.

The Public Investment Fund (PIF) purchased the Al Ghadir plot at an auction of the property of late businessman Saleh Abdulaziz al-Rajhi, the Etqan real estate company, which handled the process, said.

The undeveloped plot is located at a prime spot in northern Riyadh, opposite the capital’s glitzy financial centre the King Abdullah Financial District (KFAD).

Etqan said the land, with an area of 434,400 square metres, was sold for 5,000 riyals ($1,333.26) per square metre. Saudi Crown Prince Mohammed bin Salman told Bloomberg in an interview published on Friday that the PIF will surpass its target of increasing its assets to $600 billion by 2020, part of a plan to reduce the economy’s dependence on oil.

PIF is also among the investors backing the $500 billion business and industrial zone NEOM, which will extend into Jordan and Egypt.

https://www.reuters.com/article/sau...ln-land-plot-in-northern-riyadh-idUSL4N1WN08S
 

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