Saudi Arabia announced another milestone project, revealing plans to construct Prince Mohammed Bin Salman Nonprofit City, a development that as its name implies will not be for profit, making it the first city of its kind worldwide. The announcement was made on November 14 by the Saudi Crown Prince Mohammed Bin Salman, founder of MiSK Foundation.
Perhaps you are wondering what makes a nonprofit city. Essentially, this 3.4 square kilometer city will be home to the nonprofit sector, and an incubator for youth and volunteer groups. There are plans to build various academies and institutions, as well as an art gallery, and the city will be home to science- and technology-centric projects and initiatives. Prince Mohammed Bin Salman Nonprofit City will be established next to Wadi Hanifa in the Irqah neighborhood, and will have 44 percent of its area allocated as open green spaces for sustainability.
According to a recent article by Saudi Press Agency (SPA), the Crown Prince explained that the city aims to contribute to achieving the goals of MiSK Foundation “in supporting innovation, entrepreneurship and qualifying future leaders by defining nonprofit work in its internal operational concept and in terms of opportunities and youth training programs it will provide.” He also went on to explain that the city will provide services that “contribute to creating an attractive environment for all beneficiaries of the city's offerings."
HRH Crown Prince Mohammed bin Salman revealed the launch of the first #NonProfitCity in the world! pic.twitter.com/EdPSQ0PA0A
— Foreign Ministry(@KSAmofaEN) November 15, 2021
This one-of-a-kind nonprofit city is set to lure investors and venture capital in an effort to help foster creative enterprise. In fact, His Highness added that "Prince Mohammed Bin Salman Nonprofit City, which implements the Digital Twin model, will host academies, colleges, 'MiSK Schools,' a conference center, a science museum, a creative center offering a space to support the ambitions of innovators in sciences and new generation technology such as AI, IOT and Robotics.”
Amongst the many facilities that will be housed at this nonprofit city will be an arts academy, an arts gallery, a performing arts theater, a cooking academy, an integrated residential complex, and more. The city will also host venture capital firms and investors “to support and incubate innovative enterprises to drive community contributions from around the world.”
You heard about non-profit organizations, but have you heard about non-profit cities? Today, you will! The Crown Prince Mohammed bin Salman revealed the launch of the #NonProfitCity, the first of its kind in the world! More details below. pic.twitter.com/7H9Oe5Dgii
— CIC Saudi Arabia (@CICSaudi) November 14, 2021
Prince Mohammed Bin Salman Nonprofit City is just one of several projects that fall in line with the Kingdom's vision in empowering its youth in the workforce. As we've seen, this will be achieved by creating a learning environment that will simultaneously offer leadership skills for the nation’s youth. Although still in its early stage, details regarding the city's construction phases and progress are expected to be announced in the coming months.
