Riyadh has launched 50 investment tenders for firms across 10 commercial activities to help improve the quality of services provided to the residents and visitors of the capital, a report from SPA has said.

According to the report, the diverse range of projects includes two commercial buildings, four gardens, a social club for the elderly, 12 ready-mix concrete plants, a gas station, a multi-storey car park, and a catering facility.

The contracts range from five to 25 years, it added.

The criteria for entering the competition include a valid commercial register and a bank guarantee for 25 per cent of the value of the annual tender, which cannot be redeemed until the payment date of the rental value in the first year, it concluded.