Over SAR11 Billion in Investment Contracts Signed at Taif Investment Forum

Taif - The Taif Investment Forum has witnessed the signing of several significant investment contracts, totaling over SAR11 billion, involving Saudi companies and their Chinese and Korean counterparts. These agreements are set to boost the development of various projects in Taif Governorate.

According to Saudi Press Agency, the contracts include a range of ambitious projects. One of the key projects is the establishment of the first phase of the 'Mars War' space science fiction city. This project, valued at SAR5 billion, could exceed SAR20 billion in its final stage. It is a tourist project to be carried out at Taif University in collaboration with the Beijing Technology Group, which comprises Chinese universities, government, and advertising companies. The project aims to build an integrated city inspired by space, particularly Mars.

Another significant contract involves the establishment of an emergency information center in partnership with China Mobile, valued at SAR2 billion. This center will support the company's planned center in Jeddah. Additionally, there are plans to build five five-star tourist resorts and other municipal projects worth over SAR1 billion.

Furthermore, a collaboration with an Indian company to produce cooling material for computers, particularly central computers, aims to reduce their energy consumption by 80% and thereby lower cooling costs. Another noteworthy project is the establishment of a Saudi unicorn company for growing roses, with raw materials sourced from within the Kingdom.

The forum's second session was dedicated to discussing the "quality of life and humanizing cities." Abdulrahman Al-Anbar, Director of Strategic Partnerships at the Quality-of-Life Program, reviewed the program's objectives. These include improving livelihoods, increasing employment and leisure opportunities, making the Kingdom an attractive destination for ambitious young people, contributing to improving the lifestyle, and building an ideal society for citizens, residents, and visitors.

Al-Anbar emphasized that the program, part of Saudi Vision 2030, aims to transform the Kingdom into a hub for global sporting and recreational events, a regional and international tourist attraction, and a sophisticated country that every citizen can be proud of. The program focuses on creating and developing diverse choices across all sectors, promoting participation in artistic, cultural, and sporting activities, fostering a healthy and active life, and developing better liveable urban areas.