One of the major developments under construction is the King Abdullah Financial District (KAFD). The Saudi government plans to transform the district into a special business zone with competitive regulations, financial incentives and visa exemptions for foreigners working there.
With more than 92 Km2 (22,000 acres) of space for various uses, 62,000 parking spaces and accommodation for 12,000 residents BECT assessed the area and concluded an Urban Planning & Design Development strategy for the new district to be a major financial hub in the region. Residential, business, commercial and recreational facilities included in the city with high architectural requirements for buildings and landscaping.
To cope with the desert heat, the master plan calls for a network of elevated passenger bridges cooled by solar power. Dubbed skywalks that will connect buildings in the district. In addition, Part of the KAFD will also include a monorail.
The KAFD is envisioned as a business hub that will lure financial and law firms, banks, and the kingdom's stock exchange and capital-market authority (which is currently headquartered in Riyadh).
