Saudi Arabia's has announced it will invest a $23 billion in a massive for its capital city, Riyadh. The huge investment is part of a to beautify the city, create hundreds of thousands of jobs, boost leisure and , and transform Riyadh into "one of the world's livable cities". In addition to the government's cash injection, a further $15 billion in sector funding will help finance huge investment for businesses. Crown Prince Mohammed bin Salman will head the overseeing the ambitious project. It is part of the Crown Prince's Vision 2030 initiative aimed at diversifying the kingdom's revenue sources and reducing its on oil.
The plan is set to be the of other world capitals, which can only dream of being awarded vast amounts of money. It aims to improve the of life for the capital's 5 million residents. A focus on leisure is integral to making people . The plan includes the construction of over 130km of cycling , a park that will be quadruple the of New York's Central Park, and hundreds of art installations. Riyadh will be a greener as the amount of green space per will be increased by 16-fold. This will be achieved by planting 7.5 million trees and creating dozens of gardens. Work will begin in the second half of the year. It will create 70,000 jobs and take up to a to complete.