The Royal Commission for AIUIa (RCU) has confirmed its regeneration project- The Journey Through Time Masterplan- that will offer a $15 billion chance to invest in public-private partnership projects.
This project is declared on the anniversary of the announcement of Vision 30.
The Journey Through Time Masterplan is AIUIa’s layout to safeguard 200,000 years of natural and human history across 20 km, according to the regeneration of five heritage districts. Aiming to advocate and set the benchmark for sustainable and responsible investment in destination development with boosting environmental, social, and economic sustainability.
The development strategy is guided by the AIUIa Sustainability Charter that aims at adhering to a carbon-neutral and circular economy and resiliency principles for the development in environmentally sensitive and heritage areas, alongside water and flood management and vegetation planting.
Further, the deal will contribute to the Saudi Green Initiative by building on AIUIa’s spaces, covering an area of up to 10 million square meters. And lead to the creation of new jobs and more opportunities for the local community.
Around $3.2 billion will be spent on the developing infrastructure of AIUIa. A 46km low-carbon tramway; more clean power capacity, with half of the demand, supplied through renewables by 2035, and a centralized and upgraded water supply system with desalinated water will be added to AIUIa’s sustainable development destination.