Riyadh ranks among the top 15 fastest-developing cities

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05-Aug-2024

Riyadh has been named one of the top 15 fastest-growing cities by 2033, according to the Savills Growth Hubs Index, part of Savills’ global thought leadership programme, Impacts. The Saudi capital’s inclusion highlights the city’s significant potential for development and business expansion, driven by Saudi Vision 2030. Riyadh, is projected to see a 26 per cent population growth, rising from 5.9 million to 9.2 million in the next decade. This population boom is expected to spur continued government investment in mega infrastructure projects and improvements in amenities and services. Supporting this growth, Saudi Arabia has seen a notable increase in foreign direct investment (FDI). Government data showed a 5.6 per cent rise in net FDI inflows to SAR9.5bn ($2.53bn) in the first quarter of 2024 compared to the previous year.

 

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