Latest news with #urbantransformation
Times of Oman
3 days ago
- Business
- Times of Oman
ADB President announces $10 billion for India's urban infrastructure
New Delhi: Asian Development Bank (ADB) President Masato Kanda has committed up to $10 billion, including third-party capital, for India's urban transformation, including metro extensions, new regional rapid transit system (RRTS) corridors, and urban infrastructure and services. This is a five-year initiative, ADB said in a statement on Sunday. "Cities are engines of growth," ADB President Kanda said after meeting Prime Minister Narendra Modi here in the national capital. "ADB will mobilize capital, accelerate delivery, and scale solutions that keep India's urban economy moving and people thriving on the road to Viksit Bharat @ 2047," the ADB President added. The five-year plan includes sovereign loans, private sector financing, and third-party capital. "Had a wonderful meeting with Mr. Masato Kanda, in which we shared perspectives on a wide range of issues. India's rapid transformation over the last decade has empowered countless people and we are working to add further momentum in this journey!" PM Modi wrote in a post on X after meeting the ADB President. The initiative is anchored by India's flagship Urban Challenge Fund (UCF), which ADB is supporting to attract private investment for urban infrastructure. Completed analytical work on growth hubs, creative city redevelopment, and water and sanitation upgrades in 100 cities across India is laying the groundwork for the UCF. ADB is also committing USD 3 million in technical assistance to design bankable projects and strengthen the capacity of states and urban local bodies. India's towns and cities are projected to house more than 40 per cent of the population by 2030. ADB has already worked with more than 110 cities across 22 states on water supply, sanitation, housing, and solid-waste management projects, and the active urban portfolio totals 27 loans worth USD 5.15 billion. On urban transport, over the past decade, ADB has committed USD 4 billion for metro projects and RRTS covering 300 kilometers in eight cities, including the Delhi-Meerut RRTS, Mumbai Metro, Nagpur Metro, Chennai Metro, and Bengaluru Metro. During his India visit, Kanda also met Finance Minister Nirmala Sitharaman to discuss expanding metro networks including transit-oriented development (TOD), supporting rural prosperity, scaling rooftop-solar capacities, and operationalizing the UCF. In addition, he met Housing and Urban Affairs Minister Manohar Lal to map next steps for channelling private capital into urban projects, replicating ADB-backed urban transport successes on new corridors, and creating TOD opportunities. Kanda visited the ADB-supported Delhi-Meerut RRTS corridor, India's first RRTS, and spoke with women whose livelihoods have improved through project-linked training. In Gurugram, he visited the renewable-energy company ReNew to discuss stronger collaboration in renewable energy, followed by a roundtable with chief executives from infrastructure, finance, agriculture, and social sector firms. In that meeting, he emphasized that India's private sector can provide the scale and dynamism needed to drive India's growth. Under ADB's country partnership strategy for India, 2023-2027, it stands ready to provide more than USD 5 billion in financing each year, including about USD 1 billion in non-sovereign operations to catalyse additional private investment. ADB began operations in India in 1986. As of April 2025, it had committed USD 59.5 billion in sovereign lending and $9.1 billion in nonsovereign investments. The active sovereign portfolio comprises 81 loans totaling USD 16.5 billion as of April 2025. Founded in 1966, the multilateral development bank ADB is owned by 69 members--50 from the region.
Malay Mail
22-05-2025
- Politics
- Malay Mail
DBKL beautifies KL to host Asean Summit 2025, upgrades over 30 key areas
KUALA LUMPUR, May 22 — Kuala Lumpur has been ramping up its urban transformation initiatives ahead of the ASEAN Summit 2025 to strengthen its image as a progressive, clean, safe and competitive global city. In a statement to Bernama, Kuala Lumpur City Hall (DBKL) said a wide range of cleaning, beautification, and infrastructure and landscape upgrading initiatives have been aggressively implemented throughout the capital. The measures include more frequent rubbish collection and street sweeping, along with the replacement of 224 old rubbish bins with newly designed modern ones. In efforts to create more sustainable spaces, 40 rubbish collection centres have also been upgraded and decorated with murals, while daily 'litter picker' teams are deployed to clean green areas along main routes. Community initiatives are also encouraged through plogging activities (jogging while picking up litter) held on the third Sunday of every month, involving residents, non-governmental organisations, students and local communities. 'These steps are part of a comprehensive plan to ensure Kuala Lumpur is truly prepared to host this regional summit,' the statement said. As the chair and host of ASEAN 2025, Malaysia will host the 46th ASEAN Summit and Related Summits at the Kuala Lumpur Convention Centre (KLCC) from May 26 to 27. In conjunction with the summit, two key high-level meetings - the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit will also take place, marking an important platform for expanded regional and inter-regional cooperation. Malaysia will also host the ASEAN Summit with Dialogue Partners at the end of October this year. According to DBKL, the upgrading and beautification of over 30 key areas in the capital is being carried out in phases, including the construction of walkways and road resurfacing, and is expected to be completed by the middle of the year. Key locations include Jalan Stesen Sentral, Jalan Tun Razak, Jalan P. Ramlee, Jalan Conlay and Jalan Bangsar, while greener elements are being introduced along Lebuhraya Mahameru, Jalan Parlimen and Dataran Merdeka with the planting of ornamental trees, evergreen tropical landscaping and seasonal flowers. A maintenance and building-cleaning campaign has also been launched, urging premises owners in high-traffic areas to repaint their buildings and maintain cleanliness. In line with the smart city approach, DBKL has established a Public Incident Operations Room that functions as a central emergency response and monitoring coordination hub, supported by more than 5,000 closed-circuit television (CCTV) cameras across the city. 'We are confident these efforts will not only enhance Kuala Lumpur's profile as the host of ASEAN 2025, but also elevate the capital's image as a progressive, sustainable and inclusive city, in line with Malaysia's aspiration to be an exemplary ASEAN host,' it said. — Bernama
Malay Mail
22-05-2025
- Politics
- Malay Mail
DBKL beautifies KL to host ASEAN 2025, upgrades over 30 key areas
KUALA LUMPUR, May 22 — Kuala Lumpur has been ramping up its urban transformation initiatives ahead of the ASEAN Summit 2025 to strengthen its image as a progressive, clean, safe and competitive global city. In a statement to Bernama, Kuala Lumpur City Hall (DBKL) said a wide range of cleaning, beautification, and infrastructure and landscape upgrading initiatives have been aggressively implemented throughout the capital. The measures include more frequent rubbish collection and street sweeping, along with the replacement of 224 old rubbish bins with newly designed modern ones. In efforts to create more sustainable spaces, 40 rubbish collection centres have also been upgraded and decorated with murals, while daily 'litter picker' teams are deployed to clean green areas along main routes. Community initiatives are also encouraged through plogging activities (jogging while picking up litter) held on the third Sunday of every month, involving residents, non-governmental organisations, students and local communities. 'These steps are part of a comprehensive plan to ensure Kuala Lumpur is truly prepared to host this regional summit,' the statement said. As the chair and host of ASEAN 2025, Malaysia will host the 46th ASEAN Summit and Related Summits at the Kuala Lumpur Convention Centre (KLCC) from May 26 to 27. In conjunction with the summit, two key high-level meetings - the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit will also take place, marking an important platform for expanded regional and inter-regional cooperation. Malaysia will also host the ASEAN Summit with Dialogue Partners at the end of October this year. According to DBKL, the upgrading and beautification of over 30 key areas in the capital is being carried out in phases, including the construction of walkways and road resurfacing, and is expected to be completed by the middle of the year. Key locations include Jalan Stesen Sentral, Jalan Tun Razak, Jalan P. Ramlee, Jalan Conlay and Jalan Bangsar, while greener elements are being introduced along Lebuhraya Mahameru, Jalan Parlimen and Dataran Merdeka with the planting of ornamental trees, evergreen tropical landscaping and seasonal flowers. A maintenance and building-cleaning campaign has also been launched, urging premises owners in high-traffic areas to repaint their buildings and maintain cleanliness. In line with the smart city approach, DBKL has established a Public Incident Operations Room that functions as a central emergency response and monitoring coordination hub, supported by more than 5,000 closed-circuit television (CCTV) cameras across the city. 'We are confident these efforts will not only enhance Kuala Lumpur's profile as the host of ASEAN 2025, but also elevate the capital's image as a progressive, sustainable and inclusive city, in line with Malaysia's aspiration to be an exemplary ASEAN host,' it said. — Bernama
Trade Arabia
15-05-2025
- Business
- Trade Arabia
Roshn showcases its role in urban transformation at key forum
Roshn Group, Saudi Arabia's leading multi-asset class real estate developer and a Public Investment Fund (PIF) company, highlighted its role in driving Saudi Arabia's urban transformation during its participating in the just-concluded Saudi-US Investment Forum in Riyadh. The forum brought together leaders, decision-makers, investors, and executives from some of the world's most prominent companies to explore strategic partnership opportunities and shape a new era of collaboration. With a real estate portfolio exceeding 200 million sq m across the kingdom, Roshn Group is developing large-scale, integrated, mixed-use projects that contribute to the goals of Saudi Vision 2030 in regard to increasing homeownership to 70% by 2030, enhancing quality of life, diversifying the local economy, and setting new benchmarks for sustainable urban development. Roshn Group presented a wide range of investment opportunities across its projects at the forum, which also served as a strategic platform to enhance collaboration among key stakeholders across multiple sectors, including construction and infrastructure partnerships and investments in key sectors such as retail, hospitality, healthcare, education, transport & logistics, sports, technology and entertainment. This includes iconic destinations such as Marafy in northern Jeddah and Roshn Stadium, one of the selected venues set to host matches during the FIFA World Cup 2034, located in the southwest of Riyadh, alongside a growing portfolio of integrated developments across the central, western, and eastern regions of the kingdom. Dr Khaled Johar, Acting CEO of Roshn Group, stated: "We are proud to participate in the Saudi-US Investment Forum and to showcase the scale of Roshn Group's developments and the diversity of investment opportunities we offer across the kingdom. Our projects reflect a national vision, generating sustainable economic impact, enabling global partnerships, and advancing the core objectives of Vision 2030. This forum represents a key step in fostering strategic collaboration and long-term growth." These developments are shaped through an integrated approach that prioritizes innovation, sustainability, and the ambition to elevate quality of life. Each project features advanced infrastructure, high sustainability standards, and human-focused design. ROSHN Group is committed to integrating infrastructure, technology, and public realm planning to create a new model of integrated urban communities, designed to adapt to change and meet both community needs and national development priorities. The group also plays a pivotal role in fostering economic growth and diversification in line with Vision 2030. Through its strategic collaboration with international and national partners, Roshn Group enables the localisation of manufacturing and services within the Kingdom, strengthens national supply chains, and supports the development of a more competitive, self-sustaining economy. The Group is advancing further supply chain innovation in collaboration with leading firms in property technology, infrastructure design, and other areas, the group said. - TradeArabia News Service
Zawya
15-05-2025
- Business
- Zawya
ROSHN Group participates in Saudi-U.S. Investment Forum
RIYADH, -- May 2025: ROSHN Group, Saudi Arabia's leading multi-asset class real estate developer and a Public Investment Fund (PIF) company, participated in the Saudi-U.S. Investment Forum in Riyadh. The forum brought together leaders, decision-makers, investors, and executives from some of the world's most prominent companies to explore strategic partnership opportunities and shape a new era of collaboration. Through its participation, ROSHN Group highlighted its role in driving Saudi Arabia's urban transformation. With a real estate portfolio exceeding 200 million square meters across the Kingdom, ROSHN Group is developing large-scale, integrated, mixed-use projects that contribute to the goals of Saudi Vision 2030 in regard to increasing homeownership to 70% by 2030, enhancing quality of life, diversifying the local economy, and setting new benchmarks for sustainable urban development. ROSHN Group presented a wide range of investment opportunities across its projects, The forum also served as a strategic platform to enhance collaboration among key stakeholders across multiple sectors, including construction and infrastructure partnerships and investments in key sectors such as retail, hospitality, healthcare, education, transport & logistics, sports, technology and entertainment. This includes iconic destinations such as MARAFY in northern Jeddah and ROSHN Stadium, one of the selected venues set to host matches during the FIFA World Cup 2034, located in the southwest of Riyadh, alongside a growing portfolio of integrated developments across the central, western, and eastern regions of the Kingdom. Dr. Khaled Johar, Acting CEO of ROSHN Group, states: "We are proud to participate in the Saudi-U.S. Investment Forum and to showcase the scale of ROSHN Group's developments and the diversity of investment opportunities we offer across the Kingdom. Our projects reflect a national vision, generating sustainable economic impact, enabling global partnerships, and advancing the core objectives of Vision 2030. This forum represents a key step in fostering strategic collaboration and long-term growth." These developments are shaped through an integrated approach that prioritizes innovation, sustainability, and the ambition to elevate quality of life. Each project features advanced infrastructure, high sustainability standards, and human-focused design. ROSHN Group is committed to integrating infrastructure, technology, and public realm planning to create a new model of integrated urban communities, designed to adapt to change and meet both community needs and national development priorities. The Group also plays a pivotal role in fostering economic growth and diversification in line with Vision 2030. Through its strategic collaboration with international and national partners, ROSHN Group enables the localization of manufacturing and services within the Kingdom, strengthens national supply chains, and supports the development of a more competitive, self-sustaining economy. The Group is advancing further supply chain innovation in collaboration with leading firms in property technology, infrastructure design, and other areas.
