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Amaala
Amaala is a land and property megaproject currently in development in Saudi Arabia that is managed by Red Sea Global and forms part of the Saudi Vision 2030 program. Its name is derived from the Arabic word for "hope", and focuses on luxury tourism to attract visitors to the Red Sea coast. The project consists of three main developments: The Coastal Development, Amaala Island, and Triple Bay. The project is under the patronage of Prince Mohammed bin Salman. The Public Investment Fund The Public Investment Fund (PIF; ar, links=no, صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $620 billi ... (PIF) Development Management Organisation was established with Nicholas Naples, CEO. Amaala, along with the other Red Sea projects, is expected to provide jobs to 35,000 individuals. and planned to span over 3,800 km2. On 25 October 2022, it was annou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Vision 2030
Saudi Vision 2030 ( ar, رؤية السعودية ٢٠٣٠ ''ruʾyah al-suʿūdiyah'') is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. Key goals include reinforcing economic and investment activities, increasing non-oil international trade, and promoting a softer and more secular image of the Kingdom. It also consists of increasing government spending on the military, as well as manufacturing equipment and ammunition. The first details were announced on 25 April 2016 by Crown Prince Mohammed bin Salman. The Council of Ministers has tasked the Council of Economic and Development Affairs (CEDA) with identifying and monitoring the mechanisms and measures crucial for the implementation of "Saudi Arabia's Vision 2030". In 2021, ''The Guardian'' wrote despite Saudi Arabia's commitment to diversify its economy, the government was still 75 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Red Sea
The Red Sea ( ar, البحر الأحمر - بحر القلزم, translit=Modern: al-Baḥr al-ʾAḥmar, Medieval: Baḥr al-Qulzum; or ; Coptic: ⲫⲓⲟⲙ ⲛ̀ϩⲁϩ ''Phiom Enhah'' or ⲫⲓⲟⲙ ⲛ̀ϣⲁⲣⲓ ''Phiom ǹšari''; Tigrinya: ቀይሕ ባሕሪ ''Qeyih Bahri''; ) is a seawater inlet of the Indian Ocean, lying between Africa and Asia. Its connection to the ocean is in the south, through the Bab el Mandeb strait and the Gulf of Aden. To its north lie the Sinai Peninsula, the Gulf of Aqaba, and the Gulf of Suez (leading to the Suez Canal). It is underlain by the Red Sea Rift, which is part of the Great Rift Valley. The Red Sea has a surface area of roughly 438,000 km2 (169,100 mi2), is about 2250 km (1398 mi) long, and — at its widest point — 355 km (220.6 mi) wide. It has an average depth of 490 m (1,608 ft), and in the central ''Suakin Trough'' it reaches its maximum depth of . The Red Sea also has exten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Investment Fund
The Public Investment Fund (PIF; ar, links=no, صندوق الإستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $620 billion (£492 billion). It was created in 1971 for the purpose of investing funds on behalf of the government of Saudi Arabia. The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia’s ''de facto'' ruler since 2015. It has been characterized as among the least transparent sovereign wealth funds in the world. In 2016, the ''Wall Street Journal'' noted that none of the fund's investments were named. The organization's activities have stirred controversy due to its relationship with the Saudi Arabian government and its human rights record. The fund's domestic investments tend to go to firms owned by elites with long-standing personal connections to the Saudi state. Some of PIF's assets were transferred to the organi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Megaproject
A megaproject is an extremely large-scale investment project. According to the ''Oxford Handbook of Megaproject Management'', "Megaprojects are large-scale, complex ventures that typically cost $1 billion or more, take many years to develop and build, involve multiple public and private stakeholders, are transformational, and impact millions of people". However, $1 billion is not a constraint in defining megaprojects; in some contexts a relative approach is needed, such as in developing countries, where a much smaller project (such as one with a $100 million budget) could constitute a megaproject. Therefore, a more general definition is "Megaprojects are temporary endeavours (i.e. projects) characterized by: large investment commitment, vast complexity (especially in organizational terms), and long-lasting impact on the economy, the environment, and society". Bent Flyvbjerg, a professor at the Saïd Business School of the University of Oxford says that globally, megaprojects mak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and largest city is Riyadh. The country is home to Mecca and Medina, the two holiest cities in Islam. Pre-Islamic Arabia, the territory that constitutes modern-day Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mohammed Bin Salman
Mohammed bin Salman Al Saud ( ar, محمد بن سلمان آل سعود, translit=Muḥammad bin Salmān Āl Su‘ūd; born 31 August 1985), colloquially known by his initials MBS or MbS, is Crown Prince and Prime Minister of Saudi Arabia. He also serves as the chairman of the Council of Economic and Development Affairs and chairman of the Council of Political and Security Affairs. He is considered the ''de facto'' ruler of Saudi Arabia, being deemed as such even before his appointment as prime minister in 2022. He served as minister of defense from 2015 to 2022. He is the seventh son of King Salman. Mohammed was born as the eldest of six children to Prince Salman bin Abdulaziz and his third wife, Fahda bint Falah Al Hithlain. After obtaining a law degree from King Saud University, he served as an advisor to his father. After Salman ascended the throne in January 2015, he appointed Mohammed as minister of defense, and Mohammed was also given the role of deputy crown prince ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
