Riyadh – Sharikat Mubasher: Smart city technologies could generate billions of dollars in economic value for Riyadh, with AI-driven energy management, smart construction, and intelligent street lighting identified as the capital’s highest-value use cases, according to a new report by JLL.
The report, Smart cities, smart investments?, found that AI energy analytics could deliver more than $1.8 billion in net present value (NPV) in Riyadh, with a 4.9-year payback period. The technology can reduce annual building operating costs by 20% by optimizing heating, ventilation, and air conditioning (HVAC) systems.
Smart construction could generate more than $3.8 billion in NPV, with a 5.9-year payback period, as the technology supports efficiency and reduces waste and delays amid Riyadh’s rapid development.
Meanwhile, intelligent street lighting could deliver nearly $270 million in NPV, with a 1.3-year payback period, by optimizing energy use across new walkways and parking areas.
JLL said these technologies could support Saudi Arabia’s Vision 2030 goals by improving productivity, reducing costs, and strengthening the economic value of Riyadh’s ongoing urban development.
