Mohammed bin Rashid visits King Abdullah Financial District in Riyadh

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates, Prime Minister and Ruler of Dubai, yesterday visited the King Abdullah Financial District (KAFD) in Riyadh and viewed a miniature of the complex.

Sheikh Mohammed is in Riyadh to participate in the 36th GCC summit.

Sheikh Mohammed was informed by Saudi officials about the SR28 billion development, the first of its kind in the Middle East in terms of size, organisation, technical specifications and equipment.

The 1.6 million square metre complex houses 70 towers including the main headquarter for the Saudi Capital Market Authority, the Saudi Stock Exchange (Tadawul), financial academy, and plenty of headquarters of banks, companies, administrative offices and other financial institutions.

The Centre includes a number of attractions and recreation areas, carefully and cleverly designed, making it a recreational and educational venue and a meeting point for the Compound's inhabitants and those frequenting it, such as Al-Wadi (Valley) park, an aquarium, an environment museum, earth's climate centre, science museum and other educational and recreational facilities.

Sheikh Mohammed admired the promising development as a main gateway of financial and trade investment to the Kingdom of Saudi Arabia. He said the project is a source of pride for the Saudi people as well as for other GCC member states and their peoples.

'Economic prosperity in any GCC member state complements other sister national economies and contributes to their prosperity as member states are seeking to achieve economic integration. Definitely, this will benefit all the people in the region,' H.H. said, wishing Saudi Arabia and its people further growth, progress and prosperity under the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdul Aziz of Saudi Arabia.

The Vice President was accompanied by Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, Reem bint Ibrahim Al Hashimy, Minister of State, and a number of senior officials.

Source: WAM