AB Espresso: Inside Saudi Arabia ’s new $4bn railway investment plan

Hello reader,

In today’s newsletter:

Discover the latest stories from Arabian Business, compiled by our editorial team. Here's what you missed on Thursday:

Saudi Arabia Railways (SAR) launched a programme in collaboration with the Local Content and Government Procurement Authority (LCGPA) to boost the Kingdom’s rail sector. The initiative aims to localise railway manufacturing, create 3,000 jobs, and offer opportunities for local suppliers. The announcement was made by the Minister of Transport and Logistic Services during the Saudi Rail Conference in Riyadh.

On the real estate front, Diriyah Company revealed plans for the Qurain Cultural District and the Northern District as part of the $63.2bn Diriyah project near Riyadh. The districts, introduced at the “Bashayer – Delivering our Future” event, will focus on arts, education, and cultural development. The initiative aligns with Saudi Arabia’s efforts to develop Diriyah as a global urban and cultural hub.

Meanwhile in Dubai, Reef Luxury Developments’ REEF 1000 project in Dubai Land Residential Complex sold out on its launch day. Valued at AED175m ($48m), the project features globally patented climate-controlled sunken balconies, attracting interest from investors and residents.

In other news, Dubai International Financial Centre (DIFC) announced amendments to the DIFC Law on the Application of Civil and Commercial Laws, providing statutory clarity on legal interpretation. Changes were also made to the Real Property Law and Regulations to strengthen DIFC’s position as an international financial hub.

Aside from this, New York City FC and Etihad Airways announced a 20-year naming rights agreement for Etihad Park, the first football-specific stadium in New York City. The stadium, part of a 23-acre development in Queens, will include housing, a public school, a hotel, and open spaces.

Until next time, Sharon Benjamin for Arabian Business

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