Tehran SAMA quoted Hadi Ayyazi, Tehran deputy mayor for social and cultural affairs, as saying that attraction of domestic and foreign investment for trade, recreational and sports projects is another form of participation of people in developing the city which has been pursued by Tehran Municipality in recent years. There are many commercial, recreational and sports facilities in metropolises and urban managers should make building them an important item of their urban development agenda.
The official added that the new project has been implemented over 190,000 square meters and has recreational, trade, and residential uses. It has been built in cooperation with Malaysian investors in the best location in northwest Tehran. It neighbors residential complexes and caters to a population of 500,000. It is capable to become one of the most important trade hubs of Iran. Tehran Municipality has taken part by providing needed land and permits for the project which has been valued at over 100 billion tomans. A total of 4,000 sq. m. of parking lots will be built in addition to green spaces, cinemas, hotels, as well as cultural, arts and trade complexes.