Saudi Arabia is building a $7 billion city on the sand — here's what it will look like
Saudi Arabia is the world's largest oil exporter, but falling oil prices have hurt the economy and made it harder for the country to pay its oil workers.
To give its economy a boost, the Saudi Arabian government has been working in recent years to transform hundreds of square miles of desert into new cities that create jobs and diversify the economy away from crude oil.
One of the developments under construction is the Knowledge Economic City, set to be complete by 2020.
Take a look at the master plan below.
Saudi Arabia is building the Knowledge Economic City in Medina, located 60 miles from the Red Sea coast.
Amr Dabbagh, Governor of the Saudi Arabian General Investment Authority, announced the project in 2006.
Source: The Knowledge Economic City Company
The$7 billion development will measure 51.6 million square feet when complete.
The city's master plan calls for retail, office space, and over 1 million square feet of housing.
See the rest of the story at Business Insider
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Saudi Arabia is building a $7 billion city on the sand — here's what it will look like
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