December 14, 2018

Bill Gates Invests $80 Million in Arizona Smart City

15 November 2017, 04:43 | Devin Moran

Bill Gates buys 25000 acres of land to build the 'smart city of the future' in Arizona designed around self-driving cars

Bill Gates is Buying Land in Arizona to Build a

Belmont, Arizona, which will house around 160,000 people in 80,000 homes, will embrace "cutting-edge technology" throughout the city, which is to be built on a desert area now occupied by just a few dozen people.

(MSFT) founder Bill Gates, has paid $80 million for a stake in a proposed "smart city" in Arizona, according to azcentral.

Belmont will be embedded with an internet system installed as it is built.

Technology billionaire Bill Gates is to build the world's first goal built smart city - with driverless cars and state of the art connectivity. The city would be having eight thousand homes and the remaining land of three thousand and four hundred acres would be open land.

As per KPNX, in a press release the Belmont Partners said; it will be creating a community of future with an infrastructure and communication spine that rests on the cutting edge technology of future, equipped around high-speed digital networks, new distribution models and manufacturing technologies, data centres, autonomous vehicles, and also autonomous logistics hubs.

Belmont Partners expressed that the land transformation would be like an unused-empty slate turned into a purposeful city standing on flexible structural design.

It didn't offer many other details, such as when construction would start or if Microsoft will build an office there. Temperatures in the area can reach as high as 45C in the summer months.

Just one week following the announcement of the Toronto neighborhood, Saudi Arabia made an announcement of its plans to invest more than $500 billion for a new worldwide hub that is meant to push all boundaries of innovations as well as exemplify what civilization will be in the future.

Gates' investment group, Cascade Investment, is putting $80 million towards the new community, according to the Arizona Republic.

Bill Gates is building a "smart city" in Arizona which will feature driverless cars and "cutting-edge" technology.

"Finally Arizona's getting recognized for being a place for innovation", added Schott.

"Belmont is an incredible opportunity for the state of Arizona", Grady Gammage, Jr., an attorney representing Belmont Partners, said in a statement.

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