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CarePoint Global Business Plan

Saudi Landbridge: The USD 7 billion Red Sea-Gulf rail line is an integral part of
the GCC’s connected rail network. Italferr has been awarded a USD 37 million
contract by the Saudi Railways Company (SAR) to design the Landbridge – a
950-kilometer line between Riyadh and Jeddah, and a second 115-kilometer line
between Dammam and Jubail. Transit times for freight between Jeddah and
Dammam will be reduced to 18 hours, compared with the current sea voyage of
five to seven days, with capacity for eight million tons of freight a year.
Jubail II: This 22-year industrial project is getting an USD80 billion expansion
and will double the population of the area. When completed, it will be composed
of 100 industrial plants, an 800,000 cubic meter desalination plant; miles and miles
of railways, roads and highways; and an oil refinery producing at least 350,000
barrels per day. The entire project is slated to be finished in 2024.
Riyadh Metro: Saudi Arabia’s sprawling and congested capital is in a race
against time to complete its SR 85 billion (USD 22.5 billion) metro system within
four years. Construction, which began in 2017, has taken over the city’s business
core, to the frustration of drivers facing detours and lane closures. With 176
kilometers of line and 80 stations, this is the biggest project of its type in the
world.
The Kingdom Tower in Jeddah: This will be the world’s tallest building at more
than 1 kilometer high once completed in 2019. The Kingdom Tower, which will
be built on foundations 60 meters deep, is being developed by Saudi billionaire
Prince Alwaleed Bin Talal’s Kingdom Holding Company at an estimated cost of USD
1.23 billion. CONFIDENTIAL
Jeddah’s Waterfront Corniche: A unique tourist, residential and commercial
destination which will become the New Jeddah Downtown. The project aims to
create a distinctive and attractive environment to support Jeddah’s ambition of
becoming one of the world’s top 100 cities. It will generate SAR 18 billion (USD
4.8 billion) of investment over 10 years and create 36,000 new jobs.
Construction is scheduled to begin in the first quarter of 2019, with the first
phase expected to be completed in the fourth quarter of 2022.
Taif Development Projects: These projects are in the northeast of the old city
of Taif, east of Jeddah, in an area spanning 1,250 square kilometers. The
development includes a new airport, tourism city Souq Okaz, technology, industrial
and university zones, and a residential area with 10,500 housing units. Estimated
cost is SAR 11 billion (USD 2.93 billion).
Al-Qiddiya Entertainment City: This project is located 40 kilometers from
Riyadh. The first phase is under construction and is expected to be completed
by 2022. The PIF plans to fund initial investments into the project and start
partnerships with international companies. Total investment in the project is
expected to be around USD 30 billion.
Red Sea Beach Tourism Project: Saudi Arabia wants to turn hundreds of
kilometers of the Red Sea coastline into a global tourism destination as part of
its plan to transform the economy and reduce its reliance on oil. The project is
expected to cover over 50 islands and 34,000 square kilometers between the
cities of Umluj and Al Wajh. Total investment in the project is expected to be
about USD 60 billion.

Resources: Prepared by our U.S. Em bassies abroad.

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