A real estate investment firm owned by Microsoft co-founder Bill Gates has bought a giant plot of land in Arizona for $115 million to be developed into a "smart city".

Arizona-based Belmont Partners, one of Gates' investment firms, purchased close to 10,000 hectares of land in Tonopah, according to Fox News.

"Belmont will create a forward-thinking community with a communication and infrastructure spine that embraces cutting-edge technology, designed around high-speed digital networks, data centres, new manufacturing technologies and distribution models, autonomous vehicles and autonomous logistics hubs," Belmont Partners said in a press release.

The community "will transform a raw, blank slate into a purpose-built edge city built around a flexible infrastructure model," according to Belmont Properties.

Advertisement

The space will reportedly include 80,000 residential units, 190 hectares for public schools and 1500 hectares designated for offices, commercial buildings, and retail outlets.

It remains unclear when Belmont would be built.