- Aug 12, 2024
The economic impact of mixed-use developments on local communities
Abha’s groundbreaking project, The Point, is situated in southwestern Saudi Arabia, within the Asir Region, which is well known for its rich cultural heritage and stunning natural landscapes. The Point, a vibrant mixed-use development, exemplifies a visionary approach to urban planning. It aims to create a self-sustaining community that fosters economic prosperity while preserving the region’s unique identity.
The development is strategically situated on King Fahd Road between Abha and Khamis Mushait, establishing itself as a central hub for shopping, entertainment, and hospitality. This prime location not only enhances accessibility but also bolsters local businesses and entrepreneurs. Aligned with Saudi Arabia’s Vision 2030, the project aims to diversify the economy, reduce dependence on oil revenues, and promote tourism and trade, thereby contributing significantly to the region’s economic and social development.
Diversification of Economic Activities
One key economic benefit of mixed-use developments is the diversification of economic activities. In the case of The Point, integrating retail, residential, commercial, and hospitality spaces attracts a diverse range of businesses and entrepreneurs. From local artisans to global retailers, the project will become a hub for various industries, creating a resilient and dynamic local economy.
Job Creation and Skill Development
Mixed-use developments are significant contributors to job creation. The Point will generate employment opportunities during the construction phase and sustain long-term jobs across multiple sectors. Moreover, the variety of businesses within the development leads to skill diversification, empowering the local workforce with a broad range of competencies.
The project is expected to contribute to generating between 1,500 and 2,500 direct job opportunities in the region, with investment opportunities for small-scale businesses. The development will house over 150 retail outlets, 41 restaurants and cafes, a 150-room hotel, a 100-key serviced apartment, a 1,000m2 youth centre, a 3,000m2 health centre, and ten cinemas. Each of these facilities will require staff for operations, management, customer service, and maintenance, creating numerous long-term job opportunities for the local population.
