The project is part of a sweeping reform and investment programme dubbed "Vision 2030", the brainchild of Crown Prince Mohammed bin Salman, who also attended the launch ceremony at the site on Saturday evening.
The 82-year-old monarch dubbed the Arab League meeting the "Jerusalem summit" as he took aim at Washington's decision to transfer its embassy in Israel to the holy city.
Oil-rich kingdom was major supporter of Egypt’s 2013 military coup against first freely elected president
Turkish Prime Minister Binali Yildirim will visit Gulf state for 2 days
The Saudi king denounced a truck-ramming attack in New York last week
11 princes and four sitting ministers were among those detained in anti-corruption purge
King’s Salman's visit, if anything, has become an acknowledgement of Russia's return to the Middle East
Saudi King Salman bin Abdulaziz al-Saud pays first ever state visit to Moscow
The center to be stablished under the MoU aims to monitor money transfers to and from Middle East and North Africa
The 81-year-old king, who was greeted by Japan's Crown Prince Naruhito at Haneda airport, will meet Prime Minister Shinzo Abe on Monday and as he kicks off the Japanese leg of a broader tour of Asia.
The trip comes at the time of a political transition in the United States and as deadly conflicts rage in Syria, Iraq and Yemen.
Saudi King Salman said the salary is a token of his “appreciation” to those who fought in Yemen military operations.
Hamas and the Saudi King have met for the first time in years, and discussed Palestinian unity and regional issues.
Hollande was welcomed at King Khalid International Airport by Saudi King Salman bin Abdulaziz
Saudi King shares information with Turkish President about military operation and airstrikes against Houthis.
An important question being asked is whether the new king will seek reconciliation with the Muslim Brotherhood, which has a strong presence in many countries in the region
Egypt's Sisi met new Saudia Arabia's King Salman to talk on regional issues