Saudi capital to get world’s biggest park in $23bn project

Arab News
March 20, 2019

Riyadh, Mar 20: Saudi Arabia launched an ambitious $23 billion project on Tuesday to create vast open green areas in the capital, Riyadh, including the world’s biggest city park.

Construction will begin this year on four schemes — King Salman Park, Sports Boulevard, Green Riyadh and Riyadh Art — which will create sustainable communities, drive action against climate change and provide up to 70,000 new jobs.

The aim of the project is to “significantly improve the lives of its citizens, transform the city into an attractive destination and make it one of the world’s most livable cities,” the government said.

The four projects - King Salman Park, Sports Boulevard, Green Riyadh and Riyadh Art – will complement the Saudi Vision 2030’s “Quality of Life” Program and are aligned with the UN Sustainable Development Goals, to create sustainable cities and communities, while driving urgent action against climate change.

Developed with a government investment of $23 billion, the four projects will offer opportunities worth $15bn for the private sector to invest in residential, commercial, recreational and wellness projects.

As well as creating tens of thousands of new jobs, the project will also help boost efforts to improve the city’s health and wellbeing with a commitment to wellness, health, sports, culture and the arts, underpinned by a commitment to environmental sustainability.

The project will transform the environment and make Riyadh a more sustainable city, Dr. Fatma Alaish, assistant professor of ecology and environmental pollution at Jeddah University’s biology/botany department, told Arab News.

“Planting cities reduces air pollution as plants undergo photosynthesis and absorb carbon dioxide gas,” she said.

“This will decrease the amount of carbon dioxide in the air, a poisonous gas that negatively affects air quality, mixed with dangerous car emissions, and heavily contributes to global warming.  With more planted green areas, there will be less pollution.

“The more you plant, the better the weather, the cleaner the air and the more sustainable life will be in cities.”

Measuring 13.4 square kilometers, King Salman Park will be the world’s biggest park, with residential areas, hotels, and will also feature a Royal Arts Complex, theaters, museums, cinemas, sports venues, water features, restaurants and an 18-hole Royal Golf Course.

The park will also boast several landmark assets, including the Riyadh Fountains and a Vertical Garden. As an environmentally sustainable urban development, it will offer opportunities for the international community in arts, entertainment and culture.

One of the world’s largest urban greening projects, Green Riyadh will increase Riyadh’s green cover with 7.5 million trees.

The massive planting project will help increase the city’s green cover from 1.5 percent of Riyadh’s total area to 9.1 percent – that is approximately 541 square kilometers by 2030.

Salem Alghamdi, a professor at the College of Food and Agricultural Sciences, King Saud University, said the projects would make Riyadh “one of the greatest capital cities in the Middle East.”

“I believe now in Riyadh we are really having a new city,” he said, “with the Riyadh metro, the Qiddiya project and now this Green Riyadh project, these will add even more value.”

Green space availability will increase to 28 square meters per capita from the current 1.7 square meters per capita, compared to the World Health Organization’s recommendation of 9 square meters per capita.

Green Riyadh will help reduce average ambient temperature by 2C, and will use more than 1 million cubic meters of treated sewage daily for irrigation, for the sustainability of water resources in the city.

Sports Boulevard  - a health and wellness destination in the heart of the city- will feature a 135 kilometer-long professional cycling track covering the city and the surrounding valleys, the first of its kind in the region.

Adding 3.5 million square meters of new open space across the city, this grand project will also feature a sports pavilion, riding stables and athletics tracks.

Riyadh Art will be the world’s largest government investment in public art and will establish the city as “a gallery without walls” through a world-class interactive public arts program.

With 1,000 artworks curated through 10 separate programs and an annual arts festival, this project will feature large-scale art works with the aim of drawing art lovers and creators from around the world.

Construction work is due to start in the second half of 2019.

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Agencies
June 9,2020

Dubai, Jun 9: Dubai's Emirates airline has begun laying off employees to reduce cost and save cash as the carrier looks to rightsize its workforce.

"We at Emirates have been doing everything possible to retain the talented people that make up our workforce for as long as we can. However, given the significant impact that the pandemic has had on our business, we simply cannot sustain excess resources and have to rightsize our workforce in line with our reduced operations. After reviewing all scenarios and options, we deeply regret that we have to let some of our people go," the spokesperson said in the statement.

Citing sources, Reuters and Bloomberg earlier reported that a majority of those being made redundant are cabin crew workers as well as a minority of its engineers and pilots, including those flew the Airbus A380.

"This was a very difficult decision and not one that we took lightly. The company is doing everything possible to protect the workforce wherever we can. Where we are forced to take tough decisions we will treat people with fairness and respect. We will work with impacted employees to provide them with all possible support," said the statement.

The spokesperson, however, didn't disclose how many employees are being made redundant in this latest round of rightsizing the workforce.

Emirates on Sunday confirmed that it extended the period of reduced pay for its staff for another three months till September. It had previously reduced basic wages by 25 to 50 per cent for three months from April, with junior employees exempted.

The airline had employed around 60,000 people at the end of its 2019-20 financial year.

Saj Ahmad, chief analyst at StrategicAero Research, said the announced job cuts at Emirates will likely not be the last given the unprecedented damage that Covid-19 has had not just on air travel, but on the entire aviation industry as a whole.

"Emirates' massive international network means that job reductions were always a last resort option as the company staves off cash burn and expenses at a time when revenues are dried up. While Emirates SkyCargo is enjoying a resurgence in activities, the reality is that this income will never offset the lost money from passenger operations," he added.

"Whilst some salary reduction schemes have prevented bigger job cuts for now, the absence of a cure or medicinal suppressant of Covid-19 means that air travel is unlikely to even reach pre-9/11 levels within 3-5 years, let alone pre-Covid-19 levels in that same time period. For that reason, Emirates' reduction in headcount is necessary to stay competitive, agile and be ready for when air travel can resume with a degree of normalcy that we have been accustomed to for decades," said Ahmad.

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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News Network
July 18,2020

Dubai, July 18: An NRI student who passed away in Dubai shortly after shortly after attempting his Central Board of Secondary Education (CBSE) Grade 12 papers in March, has scored an impressive 91.4 per cent on his board examinations, including 100 in his media studies paper.

Ahmed Ziyad, a student of GEMS Our Own Indian School in Al Qouz, Dubai, died on March 19, suffered a heart condition called Hypertrophic cardiomyopathy (HCM) that stopped him from being active in sporting activities.

Ziyad's parents, teachers, and classmates remember him as a very ambitious pupil, who wanted to launch his own business and achieve great things in his life. His board results are - mass media studies 100, Marketing 97, English 84, Entrepreneurship 82, and Home Science 94.
 
Ziyad's father, Shanavaz Manangath, a real estate professional who has been a resident of Dubai for over two decades said, "Six months ago, he had collapsed while playing with his friends. Since there was an irregularity in his heartbeat, he could not take part in any strenuous activities." He added, "Ziyad had just started playing with his friends on March 19 when he suddenly collapsed and died shortly after. My family has not been able to overcome his loss."

Unable to hold back his tears, an emotional Manangath said Ziyad wanted to do his BBA and launch his own business, "He was very ambitious. Honestly, I haven't looked into his board exam results, but, I know he had studied very hard for the exams."

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