Saudi Arabia to establish world’s first non-profit city

Saudi Arabia has announced plans to establish the world’s first non-profit city in the kingdom.

The Prince Mohammed bin Salman Non-Profit City will be a 3.4 square kilometre city located on land dedicated by the Crown Prince, in the Irqah neighbourhood, adjacent to Wadi Hanifa.

It is expected to be a model for the development of the non-profit sector globally and an incubator for youth and volunteer groups as well as local and international non-profit institutions, reported Saudi Press Agency.

The announcement of the launch of the city was made on Sunday by Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Founder and Chairman of the Board of Mohammed bin Salman Misk Foundation.

The Crown Prince said that the city will contribute to achieving the goals of Mohammed bin Salman Misk Foundation in supporting innovation, entrepreneurship, and qualifying future leaders by defining non-profit work in terms of opportunities and youth training programmes.

HRH Crown Prince Announces Establishment of First Non-profit City in the Worldhttps://t.co/H14pnpvbGO#SPAGOV pic.twitter.com/njNeEaTUYb

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The Crown Prince said that the proposed city will also feature an arts academy and gallery, performing arts theatre, play area, cooking academy and integrated residential complex.

In addition, it will host venture capital firms and investors to support and incubate innovative enterprises from around the world.

“Prince Mohammed bin Salman Non-Profit City, which implements the Digital Twin model, will host academies, colleges, ‘Misk Schools’, a conference centre, a science museum, a creative centre offering a space to support the ambitions of innovators in sciences and new generation technology such as AI, IoT and Robotics,” said Prince Mohammed.