World’s 1st Non-Profit City: Saudi Crown Prince reveals plans

By Amirtha P S, Desk Reporter
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Saudi Fintech
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Saudi Arabia’s Crown Prince has announced the launch of the “Prince Mohammed Bin Salman Non-Profit City,” the first non-profit city in the world.

The city will 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.

The project will house venture capital companies and investors who will support and incubate talent and businesses to drive community contributions from around the world.

Located near Wadi Hanifa, on an area estimated to be about 3.4 square kilometers, the city will comprise a theatre, art academy and gallery, a cooking academy and a residential complex.

Prince Mohammed Bin Salman Non-Profit City will host academies, colleges, ‘Misk schools’, a conference center, a science museum, and a creative center offering a space to support the ambitions of innovators in sciences and new generation technology such as artificial intelligence (AI), Internet of Things (IoT) and robotics.

Prince Mohammed, who is also the founder and chairman of the Board of Mohammed bin Salman Misk Foundation, stated that the project will offer services that contribute to creating an attractive environment for all beneficiaries of the city’s offerings.

Mohammed bin Salman
Mohammed Bin Salman
Crown Prince
Saudi Arabia

“This will be the first non-profit city of its kind which will contribute to achieving the goals of Misk Foundation in supporting innovation, entrepreneurship and qualifying future leaders by defining non-profit work in its internal operational concept and in terms of opportunities and youth training programs it will provide.”

Prince Mohammed Bin Salman Non-Profit City aims to create a vibrant Saudi youth talent system to shape the future of the kingdom and the world, by encouraging learning and developing leadership skills among youth.

The city’s master plan embodies a human-centered, advanced digital metropolis designed to be sustainable, pedestrian-friendly, and will allocate more than 44 percent of the total area for green open spaces to promote sustainable development. Details relating to the development phases and progress of the city will be announced in the coming months.

Related: CBUAE’s new mBridge project report emphasizes cross-border fund transfer


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