Global Business Ventures (GBV) has issued a statement announcing its plans to build a mega mix-use project in Saudi Arabia. The project will comprise 25,000 housing units and 93,000 square meters of commercial space across three areas north of Riyadh.
Global Business Ventures is a consortium of US and Saudi business leaders, led by Chairman Randall Langer, who are dedicated to planning and executing developments in line with the Saudi Vision 2030 plan.
The design process for the new development, led by GBV Master Architect Scott Sarver, has begun with the goal of creating a new generation mega development.
The development is set to provide Saudi citizens with a sustainable and affordable all inclusive community that comprises residential, business and leisure facilities.
According to a statement, GBV currently has the three plots under contract, which comprise more than 9.75 million square meters of land.
“We look forward to welcoming Global Business Ventures to Saudi Arabia. The unprecedented program of reforms being implemented in Saudi Arabia is unlocking an exciting range of opportunities for investors in the Middle East’s largest economy. One of SAGIA’s strategic goals is to act as an advocate for investors, enabling them to invest and establish their businesses in Saudi Arabia,” said Ibrahim Al Omar, governor of SAGIA.