The rising price of oil is fueling an economic development boom in Riyadh, Saudi Arabia.
"Little more than a dusty desert outpost three decades ago, Riyadh is a boom town where even a stock market crash last year and a spike in inflation over recent months have failed to halt the orgy of conspicuous consumption."
"Ever since oil moved from a base of $10 a barrel in the late 1990s to nearly $100 this month, the desert monarchy has seen a turnaround in its economic fortunes and a return to some of the profligate spending that characterised the 1970s and 80s."
"Every day newspapers carry announcements of new projects costing billions of riyals, a currency whose strength is masked by its tight peg to the U.S. dollar."
"The Riyadh Development Authority has been set up to oversee plans to develop a financial centre, technology park and underground metro system."
FULL STORY: Riyadh is boom town as Saudis enjoy oil bonanza

Montreal Mall to Become 6,000 Housing Units
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Planetizen Federal Action Tracker
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DARTSpace Platform Streamlines Dallas TOD Application Process
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Interactive Map Reveals America's “Shade Deserts”
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Bicycles and Books — In Sacramento, Libraries Now Offer Both
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Colorado Landfills Emit as Much Pollution as 1M Cars
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Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.
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