Saudi Arabia’s giga-projects accelerated development, pushing contract awards up 20 percent to $196 billion. Giga-projects boost Saudi Arabia as the kingdom drives growth in real estate, infrastructure, and tourism. Moreover, these projects show Vision 2030 moving from planning to execution.
Riyadh leads the expansion with landmark developments like Diriyah Gate, King Salman Park, and the 220-km Sports Boulevard. Furthermore, these projects reshape the city and attract business, residents, and tourists. Giga-projects boost Saudi Arabia by creating new jobs and expanding economic opportunities across multiple sectors.
Knight Frank’s analysis shows that Riyadh accounts for 63 percent of new jobs in the kingdom. In addition, announced projects total $237 billion, with $44 billion already awarded in construction contracts. As a result, the city will accommodate population growth from 7 million to over 10 million.
These developments include more than 340,000 homes, 4.8 million sq. meters of office space, 3 million sq. meters of retail, and nearly 30,000 hotel rooms. In other words, giga-projects boost Saudi Arabia by supporting urban growth and modern lifestyles.
In western Saudi Arabia, 17 giga-projects continue with $431.3 billion in announced investments. Of that, $57 billion has been awarded, and $187.2 billion remains in the pipeline. Neom, Red Sea Global, and Qiddiya Coast lead the expansion, emphasizing luxury tourism, futuristic living, and sustainability.
These projects will deliver more than 382,500 new homes, 3 million sq. meters of office space, 4.3 million sq. meters of retail, and 330,000 hotel rooms by 2030. Notably, Neom alone has awarded $24 billion in construction contracts across multiple sub-projects.
Beyond Riyadh and western Saudi Arabia, giga-projects nationwide represent $132.3 billion in investments. Around $31.4 billion has been awarded, and $85.3 billion remains in the pipeline. Meanwhile, regions like Aseer and Soudah Mountains see developments boosting domestic tourism.
Sports and entertainment infrastructure also expanded. Around a dozen stadiums are under construction or expansion, with $17.5 billion in investments ahead of major international sports events. In addition, Saudi Entertainment Ventures is rolling out destinations worth $4.7 billion, including theme parks, cinemas, and family leisure centers.
The pace of execution and contract awards signals that Saudi Arabia’s Vision 2030 has entered the delivery phase. Consequently, giga-projects drive economic diversification, attract global talent, and improve citizens’ quality of the life.
