Oil production is a major source of state revenue in Saudi Arabia and an essential driver of urban development. Image source: Shutterstock (#189997448)
Saudi Arabia, well aware that they are particularly dependent on oil as a large exporter and consumer of the resource, is building a city that “[…] receives no direct oil revenue to fund its development”, says Fahd Al Rasheed, Ceo of the King Abdullah Economic City (KAEC). With fluctuating oil prices, change is of vital importance for the country, where the officials want to decrease fossil fuel contribution to the economy from 85 percent to below 50 percent.
A primary concern for the developers is attracting young people to live and work in the city. As a result, there is an ample amount of green spaces, medical facilities, schools and universities. Solar air conditioning and refrigeration systems will be built to reduce current energy consumption by 40 percent.
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