KSA to Launch World’s First Non-Profit City to Back Entrepreneurship
This ambitious undertaking is envisioned by the Kingdom to serve as a model for the development of the non-profit sector globally while promoting sustainable development and fueling entrepreneurship.
In an unprecedented move set to propel the country to the forefront of urban innovation, Saudi Arabia plans to build the world’s first non-profit city. This ambitious undertaking is envisioned by the Kingdom to serve as a model for the development of the non-profit sector globally while promoting sustainable development and fueling entrepreneurship.
The city will be named ‘Prince Mohammed bin Salman Non-Profit City’ and will be located in the western part of Riyadh in the neighborhood of Irqah spanning over an area of about 2.4 square kilometers. Further cementing the country’s commitment to sustainable development, the city will embrace a human-centered, pedestrian-friendly environment buttressed by advanced technology. 44 percent of the total area will be dedicated for green open spaces.
Serving as an incubator for youth and local and international non-profit institutions, the city aspires to be a hotspot for innovation, training and developing the talents of Saudi youth across a range of disciplines and industries. In support of supporting innovators in the sciences and new generation technology like AI, IOT and Robotics, the metropolis will feature educational centers and colleges along with a conference center, science museum and creative center. Fueling creativity, the one-of-its-kind city will also house an arts academy, art gallery, performing arts theatre, play area, cooking academy and a fully integrated residential complex. The non-profit city will host venture capital firms and investors to support and incubate these innovative enterprises to encourage community contributions.
The non-profit city is the latest in a string of major projects and developments in Saudi Arabia, including the megacity and NEOM set to be completed by 2030.
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Feb 20, 2024